Mexico remittances hit all-time high

Mexico's central bank reported that remittances from January to April amounted to US$9.75bn - the highest amount ever recorded for the four-month period, boosted by a historic level of transfers in April.

Reflecting a 9.03% year-on-year increase, the four-month total puts 2018 on track to surpass the record annual remittances seen in 2017.

According to central bank data, the average money transfer came in at US$310, an increase from US$305 in the same period last year.

In April alone, remittances jumped 17.9% year-on-year to US$2.72bn.

Mexicans working in the US have benefitted from low unemployment and worries surrounding increasingly strict US migration policies have prompted some migrants to send home more money than they usually do.