There can be a number of factors, there is no definitive list, but here are some points worthy of consideration:

  • Seasonal activities (summer vacation, winter vacation)
  • Seasonal festivities (think Christmas, Eid, etc.)
  • Exchange Rate in Beneficiary Country. If the exchange rate is high, then more money flows, if less, people tend to hold back remittances to a wait-and-see scenario
  • Size fo Expat community or working labor overseas
  • Taxation
  • Incentives to official remitters
  • The unofficial rate in the open-market (hawala rate)
  • Wanting to come under the government’s umbrella as a remitter or not, some government then start hounding you for no reason for more taxes, etc.
  • The geopolitical situation back home, which can directly affect the rate.
  • Investment schemes
  • Wedding Season