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Remittances shield Shilling from rising global oil prices

Diaspora remittances and export earnings propped up the shilling against a spike in global oil prices and increased payment to foreign investors.

Latest official data show that inflow of dollars from Kenyans working abroad and exports earned the country $2 billion (Sh208.4 billion) in the 11 months to November 2018, erecting a buffer against a surge in oil imports and payment of foreign interests.

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