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Remittances hit Sh154bn last year, easing pressure on falling shilling
Western Union outlet in Nairobi. Cash remittances by Kenyans working abroad increased by 9.3 per cent last year, boosting foreign exchange earnings. PHOTO | SALATON NJAU
Cash remittances from Kenyans working abroad rose 9.3 per cent last year cushioning the shilling from further drop.
Data from Central Bank of Kenya (CBK) shows diaspora remittances rose to Sh154 billion last year from previous Sh141 billion, cementing the source as Kenya’s top foreign currency earner.
