A man walks past a money exchange business showing exchange rates, in Mexico City on April 7, 2025. Photo by YURI CORTEZ/AFP via Getty Images
The Trump administration’s crackdown on illegal immigration is playing a role in the sharpest decline in monthly remittances to Mexico in more than a decade, analysts say.
According to numbers released this month from the Bank of Mexico (Banxico), income from remittances abroad stood at $5.2 billion in June, a 16.2 percent decrease compared with June 2024.
