remittance

Those remittances represent a pillar of the Mexican economy.

Mexico received $63.3 billion in remittances last year, nearly all of it from migrants living in the U.S.

Many Gazans try and send money back to support relatives still in Gaza – but remittance fees are steep and war merchants take a 30% cut.

Soaring prices have been a major concern for Bangladesh, with its currency also under pressure with remittances drying up and garments exports badly impacted by political unrest.

But economists have pointed out that there are also other factors at play, such as a rise in remittances being sent by Mexicans living abroad to their friends and family at home.