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Finance

Remittance inflows declines as global economic growth remain sluggish

By TF News Reporter

 

Kenyans living abroad sent back home US$107 million (Sh9 billion) in August, says the Central Bank of Kenya(CBK).Sluggish global economic growth lede to reduced inflowsSluggish global economic growth lede to reduced inflows

The bank says this was 5.1 per cent lower than the inflows recorded in July 2013 which amounted to US$112.8 million; and 12.9 percent higher than $94.8 million recorded in August 2012.

Inflation still under control despite marginal increase last month, says CBK

By Ben Kinyanjui

The Central Bank of Kenya (CBK) maintains that inflation rate that increased marginally to 6.67 per cent up from 6.02 per cent in July was still within the government target of five per cent.CBK says inflation still under control despite increasesCBK says inflation still under control despite increases

The CBK monetary policy committee reviewed the money market last week and concluded that inflation had remained within the allowable margin (± 25 basis points) on either side of the government’s 5 per cent medium term target.

Demand for Treasury Bills remain high, says CBK

By Ben Kinyanjui

Demand for treasury bills remained high last week with bids worth Sh16.4 billion received during the auction.CBK stayed out of money market last weekCBK stayed out of money market last week

The Central Bank of Kenya (CBK) says the Government offered for sale Sh3 billion in each of the 91-day, 182-day and 364-day Treasury bills during the week ending August 30.

Inflation rate continue to rise due to higher food prices

By Ben Kinyanjui

The rate of inflation rose marginally to 6.67 per cent in august down from 6.02 per cent in July 2013.

Inflation now exceed government target of five per centInflation now exceed government target of five per cent

According to the Kenya National Bureau of Statistics, the CPI increased by 0.30 per cent from 139.87 in July to 140.29 in August.

Kenya shilling strengthened against the US dollar and all EAC currencies

By TF News

The Kenya Shilling strengthened against all EAC currencies last week but posted mixed performance against other world majors.CBK says shilling gained marginally as demand for dollars easedCBK says shilling gained marginally as demand for dollars eased

The shilling appreciated by 0.1 per cent and 0.28 per cent against the US Dollar and the Japanese Yen respectively, while depreciating by 0.9 per cent and 0.33 per cent against the Sterling Pound and the Euro respectively.

Remittances by Kenyans living abroad declines

By Ben Kinyanjui

Remittances by Kenyans living abroad declined by 9.4 per cent (or US$ 10.34 million) to US$ 99.81(Sh8.5 billion) million from US$110.15 million recorded in May 2013. Economic slowdown in U.S led to declineEconomic slowdown in U.S led to decline

The Central Bank of Kenya says the reduction of remittance inflows was mainly in a US$ 9.53 million decline from the North American region.

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