CountryWe BuyWe Sell
USA1.391.415
Eu Countries1.481.53
United Kingdom1.7231.758
Mexico0.05660.0601
Japan0.012860.01326
China0.18910.2071
Switzerland1.42361.4636
Australia0.84490.8769
Thailand0.038050.04555
Hong Kong0.17820.1872
Poland0.33250.3545
Czech Republic0.05340.0584
United Arab Emirates0.3690.399
Denmark0.19920.2102
Sweden0.13450.1425
New Zealand0.82340.8584
Israel0.39290.4239
Saudi Arabia0.32550.4255
Korea (South)0.0010920.001252
Dominican Republic0.025420.02872
Chile0.0016080.001858
Croatia0.1850.215
Hungary0.0039720.004572
Norway0.13040.1404
India0.017580.02018

Rates updated on 4/06/20 at 15:35:18 GMT -5

Date
Category
Posters, Three Percent
About This Poster

Both groups of documented, and undocumented Mexicans working in the United States sent home a record $32.8 billion in 2018, a revenue stream that outpaced both Tourism and Oil Exports. Trump has since threatened to tax money sent to Mexico, to pay for his proposed border wall, despite being unfair, for some of Mexico’s poorest people it is a major, if not singular source of income and reducing it will just increase poverty and even contribute to the urgency to emigrate.

A misconception about undocumented immigrants is that they don’t pay income tax, but the reality is that undocumented immigrants do pay, and incentivized to do so. Estimates suggest half of undocumented workers file returns. The IRS receives over 4 million returns without a Social Security number, yet they paid around $23.6 billion in income tax, despite paying for benefits they can’t use, like Social Security and Medicare. Their purpose is to create a paper trail showing when they entered the country and how long they’ve been paying tax, hoping it will help them get legal status one day. This isn’t wishful thinking, Immigration favours applicants who have made the effort to participate in the financial obligations that come with American citizenship.

The IRS estimates that undocumented workers also pay about $9 billion in payroll taxes annually, which goes to many services unavailable to them. The Mexican-American immigrant population is currently around 11.3 million or 25 percent of the 44.5 million immigrants, and approximately 6 million of the undocumented immigrants, roughly half the estimated total of 11.7 million.

If Nour handled the currency exchanges, the benefit to the recipients would be an extra 3%, or $984 million dollars, or 0.08% of the Mexican economy. Discover things to do in Mexico that could be paid for with the savings from exchanging your currency with Nour Currency Exchange.