Mexico: Family remittances – Strength continued in August

  • Remittances stood at US$5,121.5 million, above market expectations and up 7.8% y/y, driven by operations

  • Seasonally adjusted, inflows dropped 5.8% m/m, with a very challenging base effect and not as negative as it seems

  • We expect dynamism to continue despite heightened risks to the US. We now expect full-year flows between $59-$60 billion

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