The capital received during the penultimate month of last year totaled US$ 5,435 million, 10.6% more than in November 2023, according to figures from the Bank of Mexico.

Remittances to Mexico, one of the country's main sources of foreign currency, grew in November 2024 after two months of decline, driven by both a higher number of shipments and the average amount of the transactions, according to figures released Thursday by the central bank.

The capital received during the penultimate month of last year totaled US$ 5,435 million, 10.6% more than in November 2023, according to figures from the Bank of Mexico.

This was the biggest percentage jump since June, when they rose 11.1%. In September, remittances fell 4.6% and in October they fell 1.6%.

The number of transactions - mainly from the United States - increased by 7.6% in the period, to 13.7 million transactions. Meanwhile, the average amount per order increased by 2.8%, to 397 dollars.

In cumulative terms, remittances rose 2.9% year-on-year between January and November, to US$59.518 billion, the central bank said.

Mexico, which in 2023 broke the annual historical record of remittances received with US$ 63,313 million, is the second country in the world that receives the most money for this purpose, according to the World Bank.

However, this significant influx of cash has also been exploited by Mexican organized crime groups, who use it to send their illicit profits from the United States.