Remittances slump in the third quarter

Mexico’s Central Bank (Banxico) on 1 November 2016 reported that money transfers to the country dipped in the third quarter of 2016. The roughly US$6.88 billion in remittances between April and June 2016 is slightly below the US$6.95 billion sent during the same period in 2015 (El Universal). Nevertheless, the Banxico reported the average remittance in September 2016 increased to US$305, which is a 15.7 percent annual jump. In addition, the $20.46 billion sent in the first six months of 2016 is 7.7 percent more than the same timeframe in 2015 (Milenio).