Mexico | Remittances reach historic high of US$2,642.7 million
Published on Monday, December 4, 2017 | Updated on Wednesday, February 28, 2018
Mexico | Remittances reach historic high of US$2,642.7 million
Summary
Remittances in October 2017 mark a new all-time high, surpassing the previous record of $2,637.7 million established in October 2008. The depreciation of the peso against the dollar of more than 5% in October compared to September, due to the uncertainty generated by the NAFTA renegotiations, might explain this growth in remittances.
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Authors
Juan José Li Ng
BBVA Research - Senior Economist
David Cervantes Arenillas
BBVA Research - Senior Economist