Remittances

Uncertainty over immigration policies and proposed remittance taxes is reshaping how U.S. immigrants send money back home.

With an estimated total of $65 billion in 2024, remittances sent from the United States to Mexico are the country's largest source of foreign currency

The analysis by CEMLA highlights that both women and men sent 17% of their labor income to their relatives in Mexico.

Such remittances are now equivalent to a quarter of the combined economic output of the poverty-afflicted nations of El Salvador, Guatemala, Honduras and Nicaragua.

Foreign exchange rates and food basket inflation have eroded the purchasing power of millions of Mexicans at the receiving end of wire transfers

A comprehensive guide on how to send remittances to Mexico

The bank shared that in the last 11 months, it has recorded $4.24 billion in remittances, which is 47% more compared to the previous year.

Mexico still received the most remittances, accounting for 41.2% of all funds sent to LAC countries

Migrants in the region are part of a market that generates US$4 billion, says Inter-American Dialogue in a report

Escaping violence in South America and struggling in the U.S. financial system, h.way cofounders base their fintech offer on the bonds that tie Hispanics' approach to money

El Salvador became the first country to adopt Bitcoin as legal tender on Tuesday but the bold rollout got off to a bumpy start in its first hours after users reported that the government-backed bitcoin app was not immediately adopted by various internet platforms, including Apple and Huawei.

The advocacy group wants Obama to remove all prohibitions on travel and money sent to entrepreneurs by Americans without family in Cuba.