Mexican Remittances Tumble 36 Percent

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The Bank of Mexico says Mexicans abroad sent home $1.69 billion in October 2009, nearly $1 billion less than October 2008.

Statistics published on the bank’s Web site Tuesday indicate migrants sent $18.1 billion in the first 10 months of 2009, a 16 percent drop from the same period last year.

Remittances sent by migrants have been Mexico’s second largest source of foreign income, falling only behind oil exports. {snip}