Mexican peso's strength cuts into value of remittances from US
- Mexican peso has appreciated significantly against US dollar this year.
- Stronger peso impacts purchasing power of remittances from US which total nearly $60 billion annually.
- Rise in peso attributed to higher interest rates and manufacturing moving from Asia.
- Weaker dollar hits lower-income families relying on remittances for expenses and school costs.
- Despite inflation, remittances still increasing as some send more money to offset impact.
Reuters 
