Kenyans abroad sent home a total of Ksh48.5 billion ($375.6m) in the month of June this year as diaspora remittances registered a drop for the third consecutive month.
Data by the Central Bank of Kenya (CBK) shows that the remittances declined by 4.7pc, from Ksh 50.9 billion ($394.2m) recorded in the May.
The inflows have dropped from a high of Ksh 58 billion (450.3m) Kenyans living abroad sent home in March this year.
“The decline was mainly attributable to lower inflows from key source markets,” said CBK.
Diaspora remittances from North America registered the largest drop declining from 26.4 billion in May to Ksh 24.6 billion while that from Ksh 13.8 billion to Ksh 13 billion.
“Remittance inflows remain an important source of foreign exchange earnings and continue to support the balance of payments,” said the bank.
The decrease in monthly inflows also saw 12-month cumulative remittance inflows to June 2026 shrink by 2.4pc to $4.96 billion, compared to $5.084 billion recorded over the same period last year.
