        Figure 3 Figure 4 Cost of Sending USD 200 to by Sending Country Q1 Q3 Q1 Q3 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2011 2011 2012 2012 2013 2013 2013 2013 2014 2014 2014 2014 2015 2015 2015 2015 2016 2016 Intl MTO Index 10.12 10.16 9.80 9.51 9.24 8.86 8.95 8.74 8.35 8.22 8.04 8.23 8.03 8.16 8.04 8.05 8.25 8.14 Global Weighted Average 7.21 7.02 7.10 7.26 6.92 6.63 6.62 6.13 5.91 5.85 5.71 6.03 5.94 5.92 5.91 5.60* 5.68 5.68 Global Average 9.02 9.30 9.11 9.00 9.05 8.88 8.93 8.58 8.36 8.14 7.90 7.99 7.72 7.68 7.52 7.37 7.53 7.60 Q1 Q3 Q1 Q3 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2011 2011 2012 2012 2013 2013 2013 2013 2014 2014 2014 2014 2015 2015 2015 2015 2016 2016 Canada 10.31 11.87 11.08 10.06 11.03 11.09 10.97 10.79 10.31 9.50 9.31 9.52 9.34 9.31 9.08 8.05 7.80 8.01 France 8.76 11.63 11.78 11.68 10.72 10.96 10.48 10.43 10.91 10.65 10.74 10.70 7.45 7.22 7.56 6.91 6.82 6.73 Germany 10.98 12.64 11.16 10.94 10.16 9.62 9.01 9.31 8.37 8.03 7.76 8.43 7.43 7.48 7.32 7.64 8.12 8.52 Italy 7.57 8.18 7.88 7.47 7.64 7.31 7.42 7.28 7.06 6.70 6.83 6.73 6.49 6.49 6.05 6.02 6.42 6.40 Japan 17.54 16.84 15.70 16.32 16.66 18.31 16.57 15.73 14.36 14.00 13.74 13.28 13.43 13.55 12.97 11.95 12.43 12.48 Russia 2.88 2.68 2.33 2.42 2.43 2.34 2.43 2.44 2.16 1.92 1.83 2.44 2.82 2.51 1.92 1.95 2.11 2.05 UK 8.33 7.73 7.93 7.88 7.96 7.69 8.40 8.38 7.86 7.80 7.56 7.55 7.49 7.20 7.41 7.25 7.29 7.25 USA 6.67 6.93 6.91 6.80 6.75 6.65 6.42 6.18 5.80 5.78 5.92 5.97 5.92 6.30 6.04 5.93 6.03 6.06 G8 Average 8.36 8.53 8.49 8.31 8.53 9.19 8.44 8.20 7.73 7.54 7.49 7.54 7.19 7.17 7.02 6.89 7.06 7.19 Global Average 9.08 9.30 9.12 8.96 9.05 8.88 8.93 8.58 8.36 8.14 7.90 7.99 7.72 7.68 7.52 7.37 7.53 7.60 Q1 Q3 Q1 Q3 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2011 2011 2012 2012 2013 2013 2013 2013 2014 2014 2014 2014 2015 2015 2015 2015 2016 2016 Australia 15.21 14.82 11.02 10.84 11.07 10.21 10.19 9.12 9.80 9.60 8.88 8.92 8.97 9.22 9.24 9.60 9.50 9.76 Brazil 6.31 11.12 13.00 5.88 8.66 6.35 5.94 9.65 6.35 4.24 5.26 4.74 5.02 5.72 7.40 6.81 6.76 6.05 Canada 10.31 11.87 11.08 10.06 11.03 11.09 10.97 10.79 10.31 9.50 9.31 9.52 9.34 9.31 9.08 8.05 7.80 8.01 France 8.76 11.63 11.78 11.68 10.72 10.96 10.48 10.43 10.91 10.65 10.74 10.70 7.45 7.22 7.56 6.91 6.82 6.73 Germany 10.98 12.64 11.16 10.94 10.16 9.62 9.01 9.31 8.37 8.03 7.76 8.43 7.43 7.48 7.32 7.64 8.12 8.52 Italy 7.57 8.18 7.88 7.47 7.64 7.31 7.42 7.28 7.06 6.70 6.83 6.73 6.49 6.49 6.05 6.02 6.42 6.40 Japan 17.54 16.84 15.70 16.32 16.66 18.31 16.57 15.73 14.36 14.00 13.74 13.28 13.43 13.55 12.97 11.95 12.43 12.48 Korea 8.28 6.36 6.73 6.65 6.49 6.20 6.43 6.08 5.98 5.99 6 6.20 6.19 6.09 5.43 5.54 5.61 5.33 Russia 2.88 2.68 2.33 2.42 2.43 2.34 2.43 2.44 2.16 1.92 1.83 2.44 2.82 2.51 1.92 1.95 2.11 2.05 Saudi Arabia 4.38 4.13 4.22 4.25 3.93 4.46 4.05 4.19 4.09 4.45 3.85 4.41 4.68 4.06 4.13 5.05 4.91 4.56 South Africa 18.29 17.73 18.77 20.56 20.72 20.69 19.29 18.16 19.80 19.56 19.54 19.76 18.00 16.79 15.19 16.59 16.20 16.72 UK 8.33 7.73 7.93 7.88 7.96 7.69 8.40 8.38 7.86 7.80 7.56 7.55 7.49 7.20 7.41 7.25 7.29 7.25 USA 6.67 6.93 6.91 6.80 6.75 6.65 6.42 6.18 5.80 5.78 5.92 5.97 5.92 6.30 6.04 5.93 6.03 6.06 G8 8.36 8.53 8.49 8.31 8.53 9.19 8.44 8.20 7.73 7.54 7.49 7.54 7.19 7.17 7.02 6.89 7.06 7.69 From G20 9.11 9.19 8.98 8.87 9.12 9.52 8.72 8.16 8.31 8.12 7.98 8.06 7.67 7.58 7.42 7.46 7.61 7.65 Global 9.02 9.30 9.11 9.00 9.05 8.88 8.93 8.58 8.36 8.14 7.90 7.99 7.72 7.68 7.52 7.37 7.53 7.60 Average Q1 Q3 Q1 Q3 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2011 2011 2012 2012 2013 2013 2013 2013 2014 2014 2014 2014 2015 2015 2015 2015 2016 2016 Brazil 10.44 13.42 11.31 12.99 13.48 11.56 11.94 10.97 6.35 7.43 7.66 7.91 7.96 9.38 7.01 5.95 6.96 6.76 China 12.58 11.92 11.60 12.01 11.62 11.59 11.99 11.13 10.58 10.89 10.49 10.49 10.54 10.38 10.18 9.72 10.36 10.61 India 7.70 6.96 7.95 7.83 9.05 9.18 8.57 7.86 7.57 7.62 7.00 6.88 6.78 6.88 6.50 6.00 6.17 6.59 Indonesia 6.25 5.94 6.97 6.01 6.69 6.67 7.61 6.53 7.10 7.38 7.32 7.34 6.74 6.69 6.90 6.77 7.25 8.14 Mexico 6.58 5.97 5.86 5.56 5.31 5.67 4.41 5.29 4.48 4.51 4.48 4.37 4.62 5.30 5.59 4.75 5.09 4.97 South Africa 9.55 8.03 7.90 9.57 10.08 9.87 9.55 8.39 7.63 7.62 9.27 9.06 8.25 7.78 8.98 8.89 8.97 8.49 Turkey 9.25 8.76 8.76 7.75 7.26 8.43 7.95 7.24 7.02 7.28 6.91 6.42 6.72 6.79 6.95 6.89 6.94 6.55 To G20 9.80 9.80 9.79 10.08 10.11 9.81 10.57 8.86 8.25 8.39 8.02 7.99 7.93 8.08 7.42 7.10 7.51 7.83 Global 9.02 9.30 9.11 9.00 9.05 8.88 8.93 8.58 8.36 8.14 7.90 7.99 7.72 7.68 7.52 7.37 7.53 7.60 Q1 Q3 Q1 Q3 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2011 2011 2012 2012 2013 2013 2013 2014 2014 2014 2014 2014 2015 2015 2015 2015 2016 2016 EAP 9.71 9.80 9.27 8.88 8.97 8.88 9.00 8.28 8.52 8.38 7.92 8.12 8.13 8.11 7.82 7.97 8.33 8.49 ECA 7.55 6.86 6.28 6.54 6.77 6.70 6.68 6.29 6.49 6.35 6.17 6.22 6.11 6.02 5.89 6.48 6.48 6.40 ECA 9.32 8.68 8.14 8.21 8.43 8.35 8.41 7.93 8.18 7.92 7.67 7.54 7.20 7.18 7.10 7.51 7.47 7.51 (excluding Russia) LAC 6.82 7.68 7.72 7.65 7.77 7.28 7.26 7.02 6.21 5.57 6.02 6.03 6.14 6.78 6.29 6.04 5.92 6.02 MNA 8.00 8.15 8.19 7.85 7.81 7.83 7.61 7.80 8.32 8.29 8.25 8.63 8.41 8.21 8.37 7.42 7.46 7.63 SA 6.56 6.15 6.70 6.54 7.16 7.02 7.12 6.58 6.56 6.45 5.97 5.94 5.96 5.74 5.73 5.43 5.54 5.56 SSA 12.82 12.41 12.32 12.40 12.21 12.06 12.29 12.55 11.71 11.55 11.28 11.45 10.21 9.74 9.78 9.53 9.72 9.58 Global 9.02 9.30 9.11 9.00 9.05 8.88 8.93 8.58 8.36 8.14 7.90 7.99 7.72 7.68 7.52 7.37 7.53 7.60 Abbreviations: EAP- East Asia and Pacific; ECA- Europe and Central Asia; LAC- Latin America and the Caribbean; MNA- Middle East and North Africa; SA- South Asia; SSA-Sub-Saharan Africa