03/08/2023 03:26 (UTC)

Dollar hits record high on Mexico's northern border, affecting remittance recipients

Tijuana, Aug 2 (EFE).- The dollar's rise to 16.60 pesos in Tijuana has reached an all-time high, impacting those who depend on remittances in Mexico's northern border region.

Recipients now receive less than before, and their purchasing power has decreased compared to when the dollar was closer to 20 pesos.

Mexicans and economists consulted point out that the economic dynamics of this border city, particularly its close ties with the United States, have led to higher expectations and higher costs for goods and services.

As a result, the current exchange rate is causing a number of challenges for both residents and businesses in Tijuana. (Camera: ISRAEL MARTÍNEZ).

FOOTAGE SHOWS EXCHANGE OFFICES AND SHOPS IN TIJUANA, MEXICO.

Metadata

Date: 03/08/2023 12:00 (UTC)
Credit: EFE
Source: EFE
Topic: Economy, business and finance
Type: Rough cut
Duration: 94 seconds
Reference: 7001286000
Relevance: Normal