World News | Money Sent by Migrants to Mexico Rises 10.5% in First Half
Get latest articles and stories on World at LatestLY. Money sent home by Mexican migrants has risen by 10.5 per cent in the first six months of 2020, despite the coronavirus pandemic, Mexico's central bank reported Monday.
Mexico City, Aug 4 (AP) Money sent home by Mexican migrants has risen by 10.5 per cent in the first six months of 2020, despite the coronavirus pandemic, Mexico's central bank reported Monday.
Migrants sent home about USD 19 billion in money known as remittances between January and June, compared to USD 17.25 in the same period last year. Migrants broke a record in March when they sent home USD 4 billion in one month.
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In June, they were unable to keep up that torrid pace but still sent USD 3.35 billion.
That was much better than other countries which have seen drops in remittances because of job losses or reductions in hours due to the coronavirus pandemic.
Most Mexican migrants live and work in the United States, where unemployment has surged because of lockdowns. Given the big drop in the value of the peso so far this year, remittances sent in dollars will go much further. (AP)
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)