06:56 AM EDT, 06/03/2025 (MT Newswires) -- Amid a proposal to create a special tax in the United States on remittances sent abroad, the Bank of Mexico announced the amount of remittances sent to Mexico in April was $4.76 billion, noted BBVA Research

Comparing remittances sent in April with those sent in April 2024, a 12.1% drop is observed, one of the sharpest since late 2012, stated BBVA Research.

According to BBVA Research, there are two hypotheses behind this drop: the first is the uncertainty caused by trade policy in the U.S., which translates into declines in soft indicators such as consumer confidence, and the second is the depreciation of the US dollar.