Remittances by Kenyans in the Diaspora declined by 3.2 per cent in June 2022, the Central Bank said.
According to the Central Bank of Kenya (CBK), remittances dropped to KSh38.5 billion compared to KSh39.8 billion recorded in April.
CBK noted that the US remains the largest source of remittances in Kenya, accounting for 59 per cent in the period.
“The strong remittance inflows continue to support the current account and the stability of the exchange rate,” said CBK in its weekly bulletin.
| Year | Month | North America | Europe | Rest of World | Total Remittances (USD ‘000) |
| 2022 | 1 | 215,528.88 | 57,828.80 | 65,362.07 | 338,719.75 |
| 2022 | 2 | 182,405.81 | 66,515.55 | 72,610.42 | 321,531.78 |
| 2022 | 3 | 222,531.25 | 64,222.13 | 76,828.28 | 363,581.66 |
| 2022 | 4 | 219,152.83 | 61,026.35 | 74,857.97 | 355,037.15 |
| 2022 | 5 | 203,366.18 | 60,537.34 | 75,779.71 | 339,683.23 |
| 2022 | 6 | 192,716.73 | 59,207.66 | 74,135.40 | 326,059.79 |
| 2021 | 1 | 177,413.63 | 46,034.91 | 54,898.11 | 278,346.65 |
| 2021 | 2 | 160,892.74 | 50,423.35 | 48,969.68 | 260,285.77 |
| 2021 | 3 | 171,144.37 | 63,775.42 | 55,851.40 | 290,771.19 |
| 2021 | 4 | 179,810.14 | 64,566.83 | 54,913.42 | 299,290.39 |
| 2021 | 5 | 190,748.28 | 68,658.03 | 56,395.50 | 315,801.81 |
| 2021 | 6 | 189,374.46 | 62,956.17 | 53,571.09 | 305,901.72 |
| 2021 | 7 | 206,435.23 | 71,285.77 | 58,990.49 | 336,711.49 |
| 2021 | 8 | 192,976.36 | 59,252.77 | 60,702.06 | 312,931.20 |
| 2021 | 9 | 199,697.86 | 53,208.89 | 56,897.68 | 309,804.43 |
| 2021 | 10 | 226,235.88 | 47,744.68 | 63,432.00 | 337,412.55 |
| 2021 | 11 | 215,252.99 | 42,509.66 | 62,310.97 | 320,073.62 |
| 2021 | 12 | 227,510.39 | 52,835.01 | 70,216.98 | 350,562.38 |
Improving diaspora remittances have continued to cushion the shilling against further depreciation.
Diaspora remittances are part of Kenya’s largest foreign exchange earner, mainly contributing to the country’s forex reserves to stabilise the shilling.