MEXICO CITY, July 1 (Xinhua) -- Remittances sent to Mexico totaled 3.203 billion U.S. dollars in May, the highest monthly level on record, the Central Bank of Mexico (Banxico) said on Monday.
The figure was 1.5 percent higher than that registered in May 2018, when remittances totaled 3.156 billion dollars, according to Banxico's remittances monthly report.
During the first five months of this year, remittances registered an increase of 4.74 percent against the same period of 2018, totaling 13.724 billion dollars.
Last year, Mexico received 33.470 billion dollars in remittances.
The Scotiabank Financial Group said in a report that the record number in May was due to the favorable evolution of the U.S. economy and its labor market.
In January 1995, Banxico began publishing reports on remittances, Mexico's main source of foreign income.
Around 11 million Mexicans live in the United States, according to Mexican official estimates.
