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LatinNews Daily - 04 August 2025
In brief: Remittances to Mexico continue to fall
*Mexico’s central bank (Banxico) has released new figures on remittances for June, showing a 16.2% drop from the same month last year. In June 2025, remittances to Mexico totalled US$5.20bn. The result is also down from the US$5.36bn received in May, which represented a 4.6% drop year-on-year. In the first half of the year, remittances to Mexico totalled US$29.58bn, down 5.6% on the US$31.33bn received in the same period of 2024. The results come after the passing of a bill in the US which will impose a 1% tax on remittances sent in cash from the US, down from an initial proposal of 5% on all kinds of remittances sent from the US. According to Banxico, cash remittances made up just 0.7% of those received in Mexico between January and June.
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