MEXICO. -Mexico received last October 17.1 billion in
remittances, representing a fall of 7.1% over the same month in
2011, said the Bank of Mexico (Banxico). A remittance is money
that is sent by immigrants to their countries of origin, which
for most of them it is money that comes from their salaries and
wages for their labor in foreign countries. These remittances
sent by immigrants are also a key factor for economic
development which in Mexico’s case, it is the second source of
foreign exchange after oil, and are an important source of
income for millions of people. **Video: Remittance to Mexico In
the time period between January to October, remittances totaled
19.1 billion, a figure 0.9% lower than in the same period of
2011, said the issuing bank. The average amount per transaciton
sent in the tenth month of the year was $299 dollars, compared
to $318 which represents a decrease of 5.8% that immigrants
living abroad sent to Mexico in the same month of 2011. In total
last October 5.9 million transactions