Migrant crisis highlights remittances costs

Migrant workers pay 9% in fees on money transfers

rajesh agrawal
Rajesh Agrawal, RationalFX

As the migrant crisis in Europe threatens to spiral out of control, it is worth considering that the direction of foreign exchange flows tend to move in the opposite way to migration routes.

The market for remittances accounted for some $436 billion in 2014, according to figures from the World Bank, as the approximately 250 million migrant workers funnelled their earnings back to their home countries.

Despite the large scale of these flows, the small transaction sizes and a lack of transparency

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