The country’s income from remittances slowed down in January to a monthly rate of 17 percentthe Bank of Mexico (Banxico) reported on Tuesday.
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In the first month of the year, Mexicans residing abroad sent their families in the country three thousand 930 million dollarsabout 830 million less than what was registered in December.
Its about lowest monthly level in sending remittances since February of last year and the first time in 11 months that the amount is located by under four billion dollars.
The slowdown in remittances reflects lower savings in the United States, the main country from which Mexicans send resources to the country, due to the impact of the highest inflation for that country in four decades.
However, the figure captured meant a increase of 19.6 percent compared to January 2021 and the highest amount for the first month of the year since the central bank has records.
Of money transfers from abroad, 98.5 percent were made through electronic transfers, Banxico reported.
The Central Bank report highlighted that the accumulated flow of income from remittances in the last 12 months was 52 thousand 229 million dollars, higher than the accumulated 12-month period registered in December, which was 51 thousand 586 million dollars.
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