Money sent home by Kenyans living and working abroad grew 23.1 percent during the first four months of this year to hit $1.6 billion (Sh210.4 billion) compared to the $1.3 billion (Sh170 billion at current exchange rates), buoyed by easing inflationary pressures in developed economies.
Latest data from the Central Bank of Kenya (CBK) indicates that Kenyans living in diaspora remitted $397.3 million (Sh52.2 billion) in April to add onto the cumulative $1.2 billion (Sh157.8 billion) sent home during the first quarter of the year, with last month’s inflows being the least during the review period.
