Rates and Statistics
A remittance is money sent by a person in a foreign land to his or her home country. Due to the huge sums involved, remittances are now being recognized as an important contributor to the country's growth and development.
The Central Bank of Kenya conducts a survey on remittance inflows every month through the formal channels that include commercial banks and other authorised international remittances service providers in Kenya.
Commentary on Remittances for June 2016
Remittance inflows to Kenya increased by 6.3 percent in June 2016 compared with 2.3 percent growth registered in May 2016 (Table 1). The increase in June 2016 is reflected in inflows from North America and the rest of the world (Table 2).
Table 1: (Figures are in US$ '000)
Chart 1: Monthly Remittance Inflows
Remittance Inflows by Source Market
Table 2: Remittance Inflows by Source (USD m)