Mexico Posts $5.35 Billion Record Remittances From Workers Abroad
- October data beats economists’ forecast on US job strength
- Remittances have propped up Mexico’s economy since pandemic
A family looks through the US-Mexico border fence, from Playas de Tijuana, in Baja California state, Mexico.
Photographer: Guillermo Arias/AFP/Getty ImagesThis article is for subscribers only.
Mexico posted record remittances in October, as workers living abroad continued sending cash back home and propping up the country’s economy.
Money sent home by Mexicans who are mainly living in the US totaled $5.36 billion in October, beating analysts’ estimates of $5.11 billion and a previous record of $5.3 billion in July, according to central bank data published on Thursday.