CountryWe BuyWe Sell
USA1.2651.275
Eu Countries1.4851.495
United Kingdom1.69021.7402
Mexico0.062780.06728
Japan0.011220.01172
China0.17620.2042
Switzerland1.32881.3888
Australia0.87240.9474
Thailand0.033150.04065
Hong Kong0.15860.1676
Poland0.32080.3428
Czech Republic0.05660.0616
United Arab Emirates0.330.36
Denmark0.19440.2054
Sweden0.14150.1495
New Zealand0.87690.9119
Israel0.39430.4253
Saudi Arabia0.28750.3875
Korea (South)0.0010210.001181
Dominican Republic0.021510.02481
Chile0.0015580.001808
Croatia0.18310.2131
Hungary0.0039770.004577
Norway0.14210.1521
India0.016190.01879

Rates updated on 9/23/21 at 06:12:54 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.