Money sent home by Kenyans living abroad dropped by about KSh1 billion in October 2026 compared to the same month last year, according to data from the Central Bank of Kenya (CBK).
The latest CBK figures show that diaspora remittances stood at USD430.5 million (approximately KSh55.95 billion) in October, down from USD438.8 million (about KSh57.03 billion) recorded in October 2025.
This represents a decline of USD8.3 million, equivalent to approximately KSh1.08 billion or 1.9 per cent.
The figures were published in the CBK weekly bulletin on Friday, November 13.
The decline was also reflected in the total amount sent into the country over the past 12 months.
CBK reported that cumulative remittances to October 2026 fell by 1.1 per cent to USD5.023 billion (about KSh653.2 billion), compared to USD5.082 billion (approximately KSh660.9 billion) recorded during the same period in 2025.
This means Kenya received about KSh7.7 billion less in diaspora remittances over the 12-month period.
Even with this reduction, the Central Bank maintained that money remitted by Kenyans working overseas is a vital foreign currency earnings avenue for Kenya and contributes positively to the nation’s balance of payments.
“Remittance inflows remain a key source of foreign exchange earnings and continue to support the balance of payments,” CBK said.
Shilling Stable Against the Dollar
This fall in remittance inflows is happening despite the continued stability of the Kenyan shilling against the US dollar.
According to CBK, the Kenyan shilling was trading at KSh129.96 against the US dollar on November 12, which was the same as the value witnessed on November 5.
The foreign exchange reserves of the country, according to the latest report, were recorded at USD14.605 billion (roughly KSh1.9 trillion) on November 12.
The reserves were able to cover for 5.9 months’ worth of imports.
On the other hand, the foreign exchange reserves decreased by USD94 million (approximately KSh12.22 billion) from USD14.699 billion reported a week ago on November 5.
