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Browsing: Kenya’s diaspora remittances
- Kenya’s diaspora remittances in October increased by $18.7 million compared a month earlier.
- CBK in its weekly dispatch announced that the cumulative inflows for the 12 months to October 2024 increased by 15.3%.
- Despite the dollar inflows from diaspora remittances, Kenya’s currency weakened marginally against the USD in the week ending Nov 15.
Kenya’s diaspora remittances increased by $18.7 million (KSh2.4 billion) between September and October 2024, the latest data from the Central Bank shows. Kenyans living and working abroad wire home $437.2 million (KSh56.7 billion) in October, a significant increase from the $418.5 million (KSh54.4 billion) reported the previous month.
Compared to a similar period last year this was an increase of 22.9 per cent when the foreign remittance stood at Ksh46 billion ($355.6 million).
The Central Bank of Kenya (CBK) in its weekly bulletin published on Friday, November 15, announced that the cumulative inflows for the 12 months …