The love and financial support Mexican migrants send back home, known as "remittances," act as a significant lifeline for the peso.
In 2023, remittances reached a record-breaking $60 billion, surpassing oil exports as the leading source of foreign currency. These dollar inflows directly strengthen the peso and support economic activity in Mexico. However, factors like economic conditions in the United dolar hoy States and immigration policies can influence the flow of remittances.
Stay informed about remittance trends through dolar hoy to understand their impact on the peso.