Filed Under: [ Hispanic News ]
Tags: border, Mexico, remittance, remittances
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“Take a walk along Broadway in the New York district of Harlem, and you can begin to understand the recent strength of the Mexican peso against the dollar. Now in a largely Hispanic neighbourhood, with a pocket of Mexican migrants from the state of Puebla, Broadway is lined by remittance houses, all advertising in Spanish what they say are cheap rates.
It is a phenomenon repeated in Mexican neighbourhoods across the US. In the past few years, the economic weight of Mexico’s migrant labourers has begun to make itself felt south of the border. The migrants’ dollars help to explain the strength of the peso, and they are also beginning to wreak much more profound social changes at home….”
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