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Kenya's remittance inflows in March up 27% yr/yr -central bank

04/21/2021 | 09:32am EDT
FILE PHOTO: A security guard walks past a montage of old U.S. dollar bills outside a currency exchange bureau ahead of a scheduled State visit by the U.S. President Barack Obama in Kenya's capital Nairobi

NAIROBI (Reuters) - Remittance inflows into Kenya in March were up 27% year on year to $290.8 million, the central bank said on Wednesday.

Along with farm exports and tourism, the funds are a key source of foreign exchange and are tracked by traders.

In 2020, remittances rose nearly 11% to $3.09 billion, supported by technological innovations that helped people overcome the economic struggles brought on by the coronavirus crisis to send more money home.

(Reporting by George Obulutsa; editing by Jason Neely)


© Reuters 2021
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