Remittance from overseas Kenyans rose to $345.5 million in November 2022, compared to $332.6 million in October, rising 3.9 percent, according to the Central Bank of Kenya weekly bulletin.

The cumulative inflows for the 12 months to November hit $4.021 billion compared to $3.667 billion in November 2021, recording an increase of 9.7 percent.

The central bank said that cumulative inflows continue to support the current account and the foreign exchange market.

The US remains the largest source of remittances into Kenya, accounting for 55.8 percent in November.

CBK Governor Patrick Njoroge, during the post-monetary policy committee briefing in November, said cumulative inflows will remain strong towards the end of the year, according to local media reports.

(Editing by Seban Scaria )