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

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A security guard walks past a montage of old U.S. dollar bills outside a currency exchange in Kenya's capital Nairobi July 23, 2015. REUTERS/Thomas Mukoya/File Photo

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. read more

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