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16.6: Remittances to Mexico soared in year to July 16.6% To $32.8 billion, that was due in large part to America’s booming post-pandemic labor market. Unemployment in the U.S. remains low — a good thing for Mexican remittances — although that could change as the Fed doubles down on efforts to quell inflation.
30: As Europeans in the UAE send money home in a weaker-than-usual euro, United Arab Emirates currency exchange houses have seen a surge in monthly remittances to Europe.A major foreign exchange firm, Al Fardan Exchange, recorded 30% monthly increase In September, the euro depreciated against the dollar.
14.7: Remittances from Egyptians working abroad drop 14.7% in July compared to the same period last year. The Egyptian pound fell against the dollar as import-dependent Cairo felt the economic pressure of the war in Ukraine. Tourism and remittances are one of Egypt’s most important sources of foreign exchange reserves.
108: Bangladesh recently enforce To stabilize the country’s currency, the exchange rate for remittances is capped at Tk 108 per dollar. (For a history of the USD/Taka exchange rate, see here.) amid a string of economic crises that dried up the South Asian nation’s foreign exchange reserves earlier this year, many residents turned to underground exchanges, further destabilizing the local currency.
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