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Mexicans rush money home before potential Trump tax

NEW YORK (CNNMoney) -- Mexicans in the U.S. are sending more money home and at a faster pace in part due to fears that President Trump may soon put restrictions the money transfers.

Remittances -- cash transfers from the U.S. to Mexico -- rose 6.3% in January compared to a year ago. Mexicans in the U.S. sent home $2 billion in January, according to stats released Wednesday by Mexico's central bank.

January's figures reflect a rising trend. For all of 2016, remittances shot up 8.8%

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