MEXICO CITY—Mexicans residing overseas, primarily those working in the U.S., sent $3.27 billion in remittances home in July, a new report shows.
The total marks the second-highest amount in the last 24 years, Headlinez Pro reported.
The $3.27 billion represents a 14% increases over remittances sent home in July of 2018.
And dollar amounts were higher per transaction, up 5% to $340.
Goldman Sachs analyst Alberto Ramos said he expects the growth in cash sent back to continue.
“We hope that the growth in remittances stabilizes between 4% and 6%,” Ramos said. “The solid flow of remittances from workers has been good for the current account balance and for supporting private consumption, especially for low-income families.”