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Remittances to Mexico reach $3.37B in August

Remittances flowing into Mexico in August reached about $3.37 billion, up 17% year over year, data from Banco de México showed.

According to a report by El Economista, the figure for August is the highest amount ever recorded for the given month.

Remittances for the month increased about 3.2% from July's figure of $3.27 billion.

Data from the central bank showed that most of the funds flowed into Mexico through electronic transfers.

August was the fourth consecutive month in which remittances to Mexico were above $3 billion.