Remittances to Mexico hit record of nearly $5.4 bln in October

Remittances to Mexico reached a record-high $5.360 billion in October, an increase of 11.2% from the same month last year, Mexican central bank data showed on Thursday. The amount surpasses the previous record of $5.297 billion in remittances sent in July. The average amount sent in October was $385.

Remittances to Mexico reached a record-high $5.360 billion in October, an increase of 11.2% from the same month last year, Mexican central bank data showed on Thursday. The amount surpasses the previous record of $5.297 billion in remittances sent in July.

The average amount sent in October was $385. Remittances in the year through October rose 14.6% year on year to $48.338 billion, the central bank said.

Mexican President Andres Manuel Lopez Obrador has forecast that remittances will reach $60 billion by year end.