The super peso halts the boom in remittances in Mexico

The average remittance in January was $374 per transaction, 4% less than last December when the average remittance was $390.

However, in the annual comparison, remittances grew by 12.45% and it was the best January on record.

Going forward, analysts expect a slowdown in the growth of remittances. “We may not see a drop but a slowdown because it is possible that in the second half of 2023 we will see a slowdown in the United States economy due to interest rate increases by the Fed,” Quiroz added.

If you want to know other implications of the super peso for the economy, don’t miss the next video .