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Mexico recorded the largest flow of remittances from history in May, when it entered $ 3.097 million, according to information from the Bank of Mexico (Banxico).
The above is mainly explained by the depreciation of the Mexican currency. month, the traditional increase on the occasion of Mother's Day and the consideration of changes in migration policy of the United States, say strategists Banorte-Ixe.
With this entry, an unprecedented accumulation of The first five months of the year, which amounted to $ 12,849 million.
This cumulative income exceeds the ceiling reached during the same period from January to May 2017, the date on which the historical record of $ 11,529 million was recorded. If this transfer rate is maintained, remittances could be completed by the end of the year, from $ 30 to $ 400 million, according to estimates by the Center for Monetary Studies. and Latin Americans (Cemla).
The real impact of remittances on household income was reinforced by the depreciation of the peso against the dollar and the slowdown in the price race. According to the accounts of Alberto Ramos, economist for Latin America at Goldman Sachs, remittances grew at an annual rate of 19.4%. Indeed, 1.4 million households receive, modify and spend in pesos
Beneficiaries
In Mexico, 1 million 400 000 families receive these resources and, according to the information of Banxico, receive 9.5 million of them. 39, operations, whose average business figure was 323 dollars, a figure unpublished since July 2009.
Alberto Ramos considers that this solid flow of resources is a concrete source of domestic consumption in Mexico.
as it has done in the last 12 reports, that high inflation rates and the appreciation of the peso against the dollar continue to erode the profit of shipments of funds.
Mothers, recipients of 50% of remittances
The strategist of Banorte-Ixe confirms the conclusions disclosed by Cemla in his book Migration, Remittances and Financial Inclusion.
There, they find that nearly 8 million Mexicans live outside the country. They send about 10% of their income in dollars to their homes in Mexico, with the main recipient being mothers or heads of households.
"The mother of the sender was mentioned more frequently as a recipient of remittances, 49.8% of the answers."
According to the results of the survey that gave birth to the book From Cemla, the shippers of transfers make an average of 16.6 shipments per year, that is, 17.1 shipments for men and 12.8 shipments for women.
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