Section

Make remittances cheaper, WTO

By Economic Times - 9 months ago
Digital money transfers are pulling down cost of remittances. The global average cost of sending $200 in Q3 2023 was 6.18%, a marginal decline from the preceding quarter, with digital remittances costing almost 2 percentage points less than cash transfers. This is still 1.18 percentage points higher than the G20 target of 5%. Lower average cost of remittances in G8 economies than in G20 is partly attributable to the larger share of digital transfers.

Disclaimer : Mymoneytimes implements extreme caution and care in collecting data before publication. Mymoneytimes does not liable for the adequacy, accuracy or completeness of any given information. Hence we are not liable for any kind of direct or indirect loss caused by the use of such information.