Mexicans Living Abroad Sent Home Record Amount of Cash — $26.1 Billion — Over 11-Month Period in 2017

Mexicans living abroad sent cash home in record numbers last year. The vast majority of the cash came from those living in the United States.

Bank notes of Mexican pesos and US Dollars are pictured in Mexico City, on November 8, 2016. (Credit: YURI CORTEZ/AFP/Getty Images)

Two main forces drove the trend: Mexico’s weak currency, the peso, and President Trump’s threat to slap a tax on cash shipments, known as remittances, sent from the U.S. to Mexico.

Mexicans sent home $26.1 billion from...

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