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Kenyan Remittances Surged 53% to $79.6 Million in August

Wednesday, 21 September 2011 08:20

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Source: Bloomberg
By Sarah McGregor

Kenyan remittances from abroad surged 53 percent from a year earlier to a record $79.6 million in August, the Central Bank of Kenya said.

Money sent home from Kenyans living abroad in the first eight months of the year climbed 39 percent to $558.9 million, the Nairobi-based central bank said on its website today. About 78 percent of the money arriving in August came from North America and Europe, it said.