In 2015, Mexicans living abroad sent approximately $24.8 billions back home. This made quite a news across the world, since this was highest in 7 years and it overtook Mexico’s foreign income from oil exports which was $18.7 billion.
With remittance to Mexico growing at such a high rate, it is attracting all players of the remittance industry. The US is the largest source of remittance to Mexico. The remittance service provider market between the US and Mexico is booming exponentially to cater to the growth.
At Exchange Rate IQ, we aim to make your money transfer from the US to Mexico more transparent and cheaper. We list various remittance service providers with their exchange rate, remittance fee, transfer time, pay-in & pay-out options etc. so that you can explore new options and compare them. You can get an estimated value in Mexican Peso (MXN) for your remittance amount beforehand.
The unified remittance platform of Exchange Rate IQ will not only help y
Current Exchange Rate(Mid Market) :- 20.006 MXN/USD
is a currency exchange rate. Usually traders in currency exchange market have two exchange rates -
- Selling exchange rate - at which sellers are willing to sell a particular currency and
- Buying exchange rate - at which buyers are willing to buy a particular currency.
Mid-market rate is the mid-point of these two rates. This is the most transparent and the most accurate exchange rate. It is also known as “Interbank Rate” or “Spot Rate” or “Real Exchange Rate”. This is the rate which independent sources like Reuter, Google etc show.