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Money sent home by Kenyans living abroad rose 10.68 percent last year to $1.43 billion, the central bank said on Tuesday, setting a new annual record and cushioning the weakening local currency.
Known as remittances, the cash is a major source of foreign exchange for east Africa's biggest economy alongside tea, horticulture and tourism. Kenyans abroad typically send money to help their families and to invest in projects like real estate.
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