Remittances sent by Mexicans living abroad fell 1.3 percent to $1.84 billion in July, compared to the same month in 2012, the Bank of Mexico said Monday.

The average remittance was $294 in July, down from the $323 registered in July 2012, the central bank said in its monthly report.

A total of 6.2 million transactions, the majority of them electronic funds transfers, were registered in July, the Bank of Mexico said.

Remittances totaled $22.44 billion in 2012, down 1.57 percent from 2011.

Remittances sent by Mexicans living abroad are the country's second-largest source of foreign exchange and help cover the living expenses of millions of people. EFE