Kenyan Overseas Remittances Jumped 47 Percent in First Half

Kenyan remittances from citizens living abroad, one of the country’s largest sources of foreign currency, increased 47 percent to $596.2 million in the first half of the year, the country’s central bank said.

Remittances to East Africa’s largest economy climbed to $99.5 million in June, up from $71.9 million a year earlier and down from $101 million in May, the Nairobi-based Central Bank of Kenya said today in a statement on its website.

Kenya relied on North America for 45 percent of its remittances in June and Europe for 30 percent, it said.

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