Kenyans living abroad sent more money in the month of March compared to February, as remittances continue to support the current account and the stability of the exchange rate. This was up from $321.5 million (Sh37.3 billion) sent in February, with the strong dollar against the shilling giving receivers more cash back at home. In January, Kenyans living and working abroad sent home $338.7 million (Sh39.2 billion). This year’s March inflows are 25.2 per cent higher compared to $290.8 million (Sh33.7 billion) sent home in the same month last year. Approximately three million Kenyans are living abroad according to the Ministry of Foreign Affairs.

Source: The Star April 25, 2022 05:35 UTC