Key Points
MEXICO CITY, July 3 (Reuters) - Mexico brought in close to $5.7 billion in remittances in May, central bank data showed on Monday, breaking a monthly record that analysts cautioned was softened by the recent strength of the peso versus the dollar...
While Mexico records remittances in dollars, as most of the funds come from the United States, "a strong peso hurts remittances," said Goldman Sachs analyst Alberto Ramos...
Mexico's "super peso" is among the top-performing currencies this year, appreciating more than 13% against the U.S. dollar from May 2022 to last May...
Given the peso's appreciation against the dollar, when measured in local currency, remittances actually declined 2.2% year-on-year, Ramos said.. Mexican President Andres Manuel Lopez Obrador has touted the economic boost remittances, which largely come from the United States, have brought to the country...
She's based out of the Reuters office in Mexico City, where she was previously a freelance journalist and translator working on award-winning podcasts, books about Mexico's drug lords and stories ranging from the fight for clean water to the millions spent on the city's surveillance system..
