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Remittances into Kenya jump 20 per cent in August from last year

The amount of hard currency sent into Kenya by its citizens living abroad, known as remittances, jumped 20.34 percent in August from the same month last year, the central bank said on Friday.

Like other African economies, Kenya sees funds sent home for various reasons like support for relatives, as a vital source of foreign exchange, supplementing export earnings and helping to support the shilling.

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