Texas’ Hispanic immigrants send billions home

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Posted on: October 19th, 2006
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Remittances from Texas will soar by 64 percent this year compared with 2004, surpassing the national increase of 51 percent, the study found.

“From a southwest Houston money-wiring agency, restaurant cashier Juan Torres sent $100 to his mother in Tampico, Mexico, on Tuesday, contributing to the increasing cash flow to Latin America.

Torres is one of the 2.8 million Latin American immigrants in Texas who will send $5.2 billion back home to relatives this year, according to a state-by-state breakdown released Wednesday by the Inter-American Development Bank’s Multilateral Investment Fund.”

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