Wednesday, 2 November 2011
Mexico Remittances Rise the Most in 5 Years on Cheaper Peso
Nov. 1 (Bloomberg) -- Mexican remittances rose at the fastest pace in five years in September as immigrant workers took advantage of the peso’s decline to send more money to relatives.
Even as economic growth slowed in the U.S., money sent back to Mexico rose 21 percent to $2.08 billion in September from $1.72 billion in the same month a year earlier, the central bank said today. Remittances had not risen as rapidly since October 2006, when they shot up 24 percent, central bank data show.