With remittance volumes in the low hundred BTCs daily, a single broker with good connections can often sell over-the-counter quickly enough to turn a small profit, or at least break even.
But other observers insist that the rising importance of remittances speaks volumes about the deeper weakness of the Mexican economy and the way it is failing the country's 56 million poor people.
Secondly, we investigate how, if at all, the amount of remittances sent by one sibling migrant is related to the volume of remittances sent by another.
In Latin America and the Caribbean, the volume of remittance transfers to the region reached their highest recorded volume ($65.4 billion) in 2014, after plateauing during the global financial crisis, according to a recent report on remittances by the Multilateral Investment Fund of the Inter-American Development Bank Group.
However, the amount of remittances sent by other sibling migrants is found to have no statistically significant effect on the volume of remittances sent by another migrant from the household.
The second is the volume of remittances which refers to the value of both cash and in-kind remittances sent to the household in the 12 months prior to November/December 2009, valued in Kenyan shillings (Ksh).3.3
Since 1999, the volume of remittances has been higher than that of foreign direct investment (FDI), and in 2007 alone, remittances were 16 times higher than FDI (Quintana et al. 2014).
However volume of remittances increased continuously since 2006; the National Bank of Romania (BNR) reported a record amount of remittances worth EUR 4.8-5.3 billion for 2006; a World Bank study shows that remittances from Romanians working abroad are expected to amount to a total $9 billion in 2008.
Between 1990 and 2002, the volume of remittances entering the country increased by 30% annually.
The volume of remittances sent by other siblings is also found to have no statistically significant effect on the amount sent by a sibling.
