Remittance inflows from Kenyans in the diaspora in January 2025 totaled USD 427.4 million (Ksh55.2 billion) compared to USD 412.4 million in January 2024, an increase of 3.6 per cent.
According to a Central Bank of Kenya (CBK) bulletin shared on Friday, the cumulative inflows for the 12 months to January 2025 increased by 16.6 per cent to USD 4,961 million compared to USD 4,253 million in a similar period in 2024.
CBK noted that the remittance inflows continue to support the current account and the foreign exchange market.
The US remained the largest source of remittances to Kenya, accounting for 53.2 per cent in January 2025.
However, Kenyans working and living abroad sent home Ksh2.3 billion less in January compared to the previous month, the latest figures from the Central Bank of Kenya (CBK) show.
The figures show remittance inflows for the month amounted to $427.4 million (Ksh55.2 billion at the current exchange rate), compared to $445.4 million (Ksh57.6 billion) in December 2024.
Notably, the December 2024 inflows marked the highest ever amount sent in by diaspora Kenyans in history.
However, compared to the same period last year when inflows totaled $412.4 million, the January record represents a 3.6 per cent increase.
“The cumulative inflows for the 12 months to January 2025 increased by 16.6 per cent to $4,961 million (Sh641.1 billion), compared to $4,253 million (Sh549.6 billion) in a similar period in 2024,” CBK stated in its weekly bulletin.
Exchange Rates
At the same time, the Kenya Shilling remained stable against major international and regional currencies during the week ending February 13. It exchanged at Ksh129.21 per US dollar on February 13, compared to Ksh129.19 per US dollar on February 6.
Foreign Exchange Reserves
The usable foreign exchange reserve remained adequate at USD 9,374 million (4.8 months of import cover) as of February 13. This meets the CBK’s statutory requirement to endeavor to maintain at least 4 months of import cover.
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Global Trends
CBK also announced that global inflation concerns remained elevated during the week ending February 13. The US inflation rate increased to 3.0 per cent in January 2025 from 2.9 per cent in January 2024 while the core inflation rate rose to 3.3 percent in January 2025.
The United Kingdom economy grew by 0.1 percent in the fourth quarter of 2024 from a contraction of 0.3 percent in a similar quarter in 2023.
In addition, international oil prices increased, with Murban oil rising to USD 77.07 per barrel on February 13, from USD 76.87 per barrel on February 6, on account of oil inventories draw-down.
Also Read: Updated List of Interest Rates Announced by Banks in Kenya After CBK’s Directive
Government Securities Market
The Central Bank of Kenya also announced that the Treasury bill auction of February 13 received bids totaling Ksh44.3 billion against an advertised amount of Ksh24.0 billion, representing a performance of 184.4 percent.
Interest rates on the 91-day, 182-day and 364-day Treasury bills declined. During the Treasury bond auction of February 12, the reopened 14-year and 17-year infrastructure bonds received bids totaling Ksh193.9 billion against an advertised amount of Ksh 70.0 billion, representing a performance of 277.0 percent
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