Term
Remittances
Money that people working abroad send home. For Mexico they are tens of billions of dollars a year, converted into pesos, which supports the currency.
In pesos: $300 USD sent home at 18.40 become $5,520 MXN; at 17.00, only $5,100 — the family feels the rate directly.
Where to go deeper
1/4 5 min Read What it means when the peso weakens A beginner's guide to how the peso-dollar exchange rate works: who moves it, why it swings, and what it means for your money.More terms on the same topic
Educational content only: not financial, investment or tax advice. The numbers are examples to understand the idea, not a forecast or a recommendation.