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CBK Reports Dip in Diaspora Remittances as Kenyans Abroad Send Ksh55.95 Billion
Remittances from Kenyans living abroad fell by 1.9 per cent in October 2026, with inflows dropping to Ksh55.95 billion from Ksh57.03 billion in October 2025, according to the Central Bank of Kenya (CBK).
In its weekly bulletin released on November 13, the CBK said the decline represented a drop of about Ksh1.08 billion compared with the same month last year.
In dollar terms, inflows totalled USD 430.5 million in October 2026, down from USD 438.8 million a year earlier. Over the 12 months to October 2026, cumulative remittances declined by 1.1 per cent to USD 5.023 billion, compared with USD 5.082 billion in the previous period.
Diaspora remittances remain a key source of foreign exchange for Kenya, supporting the country’s balance of payments.
Reserves Remain Adequate
The country’s foreign exchange reserves stood at USD 14.605 billion as of November 12, equivalent to 5.9 months of import cover. This remains above the CBK’s statutory requirement of at least four months.
The money market remained liquid during the week ending November 12, with commercial banks’ excess reserves averaging Ksh31.5 billion above the 3.25 per cent Cash Reserve Ratio. The Kenya Shilling Overnight Interbank Average (KESONIA) held steady at 8.75 per cent.
Interbank activity picked up, with the average number of transactions rising to 23 from 16 the previous week, while the average value traded increased to Ksh13.4 billion from Ksh9.2 billion.
At the November 12 Treasury bill auction, bids totalled Ksh69.3 billion against an advertised Ksh28 billion, a performance rate of 247.3 per cent. Rates on the 91-day, 182-day and 364-day papers declined marginally. The November 9 auction of the 10-year Treasury switch bond drew bids of Ksh3.8 billion against Ksh10 billion advertised, a 37.9 per cent performance rate.
Shilling Holds Steady
The Kenyan shilling remained stable, trading at Ksh129.96 per US dollar on November 13. It exchanged at Ksh172.72 against the Sterling Pound, Ksh144.38 against the Euro, and Ksh81.44 per 100 Japanese Yen. Against the South African Rand, it traded at 7.83.
Regionally, the shilling traded at Ksh31.47 against the Ugandan Shilling, Ksh20.39 against the Tanzanian Shilling, and Ksh11.36 against the Rwandan Franc.
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