MEXICO CITY, Mexico—Mexicans in the U.S. sent $2.4 billion to Mexico in November, when Donald Trump won the presidential election, marking the biggest increase of remittances in a decade.
According to data from Mexico’s Central Bank, remittances to Mexico in November 2016 increased 24% from the same month last year, the fastest rate of increase since March 2006, the Daily Caller reported.
The number of individual transfers also increased by 8.8%, from 77 million between January and November in 2015 to 83 million transfers in the same period in 2016.
President-elect Trump has discussed a tax on remittances, or blocking them, to pay for construction of a wall on America’s southern border. To tax remittances, the U.S. would have to be prepared to impound international wire transfers, a move that Mexican officials have declared a violation of rights, the Daily Caller said.