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Banxico: Exits recorded USD$ 4 billion

In the third quarter of the year, an increase in deposits and financial investments abroad was registered
Bank notes of different currencies, including Euro, U.S. Dollar, Turkish Lira or Brazilian Reais – Photo: Kai Pfaffenbach/REUTERS
25/11/2017
11:11
Leonor Flores
Mexico City
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After an unusual reduction in the resources of Mexicans in financial institutions abroad was observed in the second quarter of the year, exits recorded about USD$ 4 billion according to the Bank of Mexico (Banco de México abbreviated Banxico).

In the third quarter of the year, an increase in deposits and financial investments was reported for up to USD$3.989 billion.

Banxico warns that new episodes of volatility cannot be dismissed since global financial conditions may differ from what is currently anticipated by the markets.

The figures were released by Banxico as part of the payment balance report for 2017 third quarter. Currently, a deficit of USD$ 5.528 billion was registered, equivalent to 1.8% of the Gross Domestic Product (GDP).

The capital account registered a deficit of USD$ 4 million, while the financial account presented a net debt of USD$ 9.206 billion.

The payment balance records the monetary transactions between Mexico and the rest of the world, such as goods and services exports and imports; financial capital and financial transfers such as remittances, and direct foreign investment and market investment, and transactions in the Mexican Stock Exchange (Bolsa Mexicana de Valores abbreviated BMV).

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