Kenyans in the Diaspora Send Home Sh242 Billion in Six Months to June 2022
Kenyans living and working abroad sent home $2.045 billion (Sh242 billion) in the first six months of the year to June.
Remittance inflows in June 2022 totaled $326.1 million (38.6 billion), representing a 6.6 percent increase from $305.9 million (Sh36.2 billion) received in June 2021, according to the latest data from the Central Bank of Kenya (CBK).
The cumulative inflows for the 12 months to June 2022 stand at $4,012 million compared to $3,383 million in the same period in 2021, an increase of 18.6 percent.
The United States remains the largest source of remittances into Kenya, accounting for 59 percent of the overall flows in June 2022.
CBK says the strong remittances inflows continue to support the current account and the stability of the exchange rate.
“The Kenya Shilling remained stable against major international and regional currencies during the week ending July 14th. It exchanged at Sh118.23 per US dollar on July 14, compared to Sh118.03 per US dollar on July 7th,” CBK says in its weekly bulletin.
The usable foreign exchange reserves remained adequate at $7,953 million (4.59 months of import cover) as of July 14th.
“This meets the CBK’s statutory requirement to endeavor to maintain at least 4 months of import cover, and the EAC region’s convergence criteria of 4.5 months of import cover,” CBK adds.
Comments (9)
Why do they publish this nonsense? I don’t get it. Tell us how it’s helping Kenya
The so-called PPP (SBA) Loans are Really helping the KENYAn ECONOMY. When a Man I Know in US told me that Him and his Wife were going to Get the PPP (SBA) Loans without "Having a Business" I thought he was Joking. Then him and his Wife went and got 20k Dollars + 20k Dollars and sent the Money to Kenya and Built a House there just Like that.
Waxcha kuharibia watu wengine no post kama hii. Sasa unataka Wakenya wasipatiwe mkobo? Kama mkobo huyu unazaidia Wakenya kujenga, funga mdomo!
Ulisikia nikikuKataza kwenda kuChukua? Ni kama wewe KIBOGOYO kusema ako na MENO ili Hali Hana Hata moja.
Anyway:
You go Take the PPP Loan (without Business proof) and When the FBI cones Knocking on your Door: Don't blame😇. Blame yourself🥸.
Lakini naona:
PiliPili ulishaKula inkuWashaWasha🔥🔥 kweli-Kweli.
The stimulus checks were also manna from heaven. I know a few people who did not want Corvid to go away.
Uncle Sam is not who you play with unless you are rich. That can only end badly for people like us. They can even run but they will get free travel back to the US if uncle Sam finds out.
Toothless people @kibogoyo I guess Could be in Kenya already.
Nonesense!
Hahahaha, wivu. You must have been one of the ones sent back. This is complete and total wivu. You shit. Hahaha