MEXICO CITY (Reuters) – Remittances to Mexico reached a new record high in July as Mexican families received $5.3 billion from abroad, an annual increase of 16.5%, data from the Mexican central bank showed on Thursday.
Mexican President Andres Manuel Lopez Obrador has been a strong supporter of remittances in the midst of an economic slowdown and a rising inflation rate that hit 8.15% in July, its highest level in nearly 22 years.
Remittances from abroad amounted to $5.3 billion in July, after 13 million transactions were made with an average ticket of $406.
Remittances this year through July rose 16.4% to $32.8 billion, the central bank said.
Lopez Obrador has forecast remittances to reach $60 million by the end of the year.
(Reporting by Raul Cortes Fernandez and Diego Ore; Editing by Chizu Nomiyama)