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Remittances by Kenyans living abroad increase to Sh9.6 billion

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By TFN Reporter

Remittance inflows amounted to US$ 112.9 million (Sh9.6 billion) in October 2013, says the Central Bank of Kenya (CBK). CBK says inflows are strong despite sluggish global economy CBK says inflows are strong despite sluggish global economy

This was 5.1 per cent higher than the inflows recorded in September 2013 which amounted to USD 107.5 million, and 23.2 percent higher than the US$ 91.6 million inflows recorded in October 2012.

The average remittance inflows in the 12 months to October 2013 increased by 11.7 per cent, to US$105.6 million from US$ 94.5 million in the year to October 2012

The strong performance underscores the resilience of remittances during the review period in spite of the sluggish economic performance in source regions.

 

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