That was a quick recovery!
MEXICO CITY
Remittances from Mexicans living abroad rebounded in July, rising 4 percent compared to the same month last year to US$2.11 billion (euro1.55 billion), the Bank of Mexico said Monday.
The inflows had registered a year-on-year decline in both May and June amid a U.S. economic slowdown and crackdown on migration at the U.S.-Mexico border.
Mexicans sent US$13.6 billion (euro10 billion) back home through July, up from US$13.4 billion in the first seven months of 2006.
Remittances in recent years have become one of the top sources of foreign inflows to Mexico. Last year, remittances grew 15.1 percent to a record US$23.05 billion (euro16.9 billion).
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