Remittances exceed the barrier of 5 billion dollars

Although in March the remittances sent by Mexicans and Central Americans, mainly from the United States to their relatives and loved ones in Mexico, registered an annual drop, in monthly terms they recovered and once again exceeded 5 billion dollars per month.

The Bank of Mexico (Banxico) reported that in the third month of 2024 it registered remittances in the amount of 5.2 billion dollars.

The above compares favorably with the previous two months with balances below 5 billion dollars.

However, it was not a historical maximum, since in relation to March 2023 with flows of 5,194 million dollars, it represented an annual drop of 3.3%, the first so far this year.

Last March, the increase in the number of operations carried out to send money from abroad to Mexico was also notable, going from 11.7 million in the previous two months to 13.1 million with an average of 382 dollars in each one.

In cash and in kind, they brought $464 to our country on average, compared to $472 and $505 in January and February 2024.

With this, during the first quarter of 2024, remittances totaled 14,105 million dollars, that is, an increase of almost 1%.