The Impact of Mexico's Strong Peso on US Remittances

The appreciation of the Mexican peso against the US dollar is reducing the value of remittances sent from the US, causing concerns for Mexican families who rely on this income. The peso has risen by over 14% against the dollar this year, making the dollars sent from the US less valuable. This is particularly impacting low-income families, as the purchasing power of remittances has deteriorated due to peso appreciation. Despite rising inflation, remittances to Mexico are still increasing, suggesting that some Mexicans are sending more money to offset the effects of inflation.