MEXICO CITY (Reuters) – Remittances from Mexico hit an all-time high in July as Mexican households received $5.3 billion from abroad, an annual increase of 16 .5 percent, data from the Central Bank of Mexico showed on Thursday.
Mexican President Andres Manuel López Obrador has been a staunch proponent of remittances amid a slowing economy and inflation rising to 8 . 15%, the highest level in the past 22 years.
Remittances from abroad amounted to $5.3 in July, after million transactions, the average fare was 406 Dollar.
Central Bank of Remittances said this year to July grew 16.4% to 15 $800 million .
Lopez Obrador predicts that remittances will reach 60 $1 billion by the end of this year.
(This story was refiled to correct the last paragraph to $60 billion dollars instead of $60 million dollars )