Strong dollar fuels diaspora remittances to record Sh104b

The shilling weakened by 19.5 per cent in the year to July against the dollar. [Wilberforce Okwiri, Standard]

Kenyans working and living abroad sent home a record Sh104 billion in the sixty days between June and July this year, new official data shows.

This has seen their families benefit from the strong dollar and the strengthening of other major foreign currencies such as the British Pound and euro.