Weekly Report - 06 July 2023 (WR-23-27)

MEXICO | Rising remittances offset by strong peso. Mexico’s central bank (Banxico) has released its latest report on remittances, revealing a continued upward trend in the amount of money sent to the country from abroad. In May 2023, remittances totalled US$5.69bn, a 10.7% annual increase. This growth can be attributed to a 7.4% rise in the number of transactions and a 3.1% increase in the average remittance amount, which stood at US$391.

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