Cash Remittances from United States to Mexico Increase Significantly JP Buntinx - The Merkle
go to original October 19, 2016

The financial sector is a very interesting creature when taking all things into consideration. Despite presidential candidate Donald Trump threatening to cut off remittance cash flow from the US to Mexico, it appears that more Mexicans are receiving cash than ever before. In fact, the number of transfers has increased by as much as 25% in 2016 so far.

When people flap their gums, some fascinating comments come out now and then. In the case of Donald Trump, he threatened to build a wall around Mexico to make sure no money could enter the country from the US side of the border - a bold statement that not only costs him brownie points with the public, but is also utterly ludicrous.

To make matters even worse, the number of remittance transfers from the US to Mexico has trumped last year’s numbers. In fact, there are roughly 25% more transfers taking place this year so far, and there are still more than two months left in the year. Do keep in mind that halting remittance from the US to Mexico would lead to a civil war, which is the last thing the US needs right now.

There is another reason for the increasing number of remittance transfers, though. One US Dollar simply buys the recipient more pesos than last year due to fiat currency fluctuations. While that may not be the most prominent reason for sending money across borders, it is an interesting development to keep in mind.

Read the rest at The Merkle

Related: Mexicans Are Getting More Cash - Thanks to Trump (CNN Money)

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