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A Strong Peso Gives Mexicans Working Abroad Less Bang for Their Buck



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Most of the money that Antonio Solis makes delivering food on his motorcycle in New York City will eventually make its way to Monterrey, Mexico, where it will pay for his family’s mortgage, his daughter’s college tuition and daily expenses like groceries.But covering those costs is getting harder. Mr. Solis, who earns about $3,500 a month delivering for apps like DoorDash, used to send about $1,500 monthly. Since the spring, he has had to send more than $2,000 to cover the same expenses, something he does by working longer days.The culprit is a sharp appreciation of the Mexican peso over the past year, a product of high interest rates and foreign investments in Mexico, among other factors. That means each dollar Mr. Solis sends cov …

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