Kenyan remittances on course for record in 2013
04 December 2013, 11:19
Nairobi - Kenyan remittances were on course for a record high in 2013 after central bank data showed Kenyans living abroad sent home $112.9 million in October, 23 percent more than the same period last year.
Remittances, a leading source of foreign exchange for east Africa's biggest economy alongside tea, horticulture and tourism, hit a total $1.06 billion in Jan-Oct of 2013, and will almost certainly exceed the record $1.17 billion received in 2012.
The average monthly remittance inflow in the 12 months to October was $105.6 million.