Kenyans abroad sent home USD451.8 million (about Ksh58.5 billion) in August 2026, up 6 percent from USD426.1 million in August 2025, according to the latest Central Bank of Kenya (CBK) report.

In its weekly bulletin released on September 18, CBK noted that the increase came despite cumulative remittance inflows for the 12 months to August 2026 declining by 1.3 percent to USD5.013 billion, from USD5.079 billion recorded in the corresponding period in 2025.

CBK said remittance inflows remain a key source of foreign exchange earnings and continue to support Kenya’s balance of payments.

“Remittance inflows to Kenya totalled USD 451.8 million in August 2026 from USD 426.1 million in August 2025, an increase of 6.0 percent. The 12-month cumulative inflows to August 2026 decreased by 1.3 percent to USD 5,013 million compared to USD 5,079 million in a similar period in 2025.

Remittance inflows remain a key source of foreign exchange earnings and continue to support the balance of payments,” read part of the statement.

CBK on Foreign Reserves and Kenyan Shilling Against Major Currencies

The report also showed that Kenya’s foreign exchange reserves stood at USD15.088 billion, equivalent to 6.1 months of import cover, as of September 17.

The level remained above CBK’s statutory requirement of at least four months of import cover.

Kenyan Shilling remained relatively stable against major international and regional currencies during the week ending September 17, trading at Ksh129.62 against the US dollar on September 17, compared with Ksh129.45 on September 10.

The shilling also traded against other major international and regional currencies as follows:

  • British Pound (GBP): Ksh173.30
  • Euro (EUR): Ksh148.90
  • Japanese Yen (100 JPY): Ksh83.25
  • Ugandan Shilling (UGX): Ksh30.36
  • Tanzanian Shilling (TZS): Ksh20.40
  • Rwandan Franc (RWF): Ksh11.36
  • South African Rand (ZAR): Ksh7.97

Money Market and Treasury Bill

In the money market, commercial banks’ excess reserves averaged Ksh24.2 billion above the 3.25 percent Cash Reserve Ratio requirement, while the Kenya Shilling Overnight Interbank Average (KESONIA) remained at 8.75 percent.

At the Treasury bill auction held on September 17, bids totalled Ksh42.7 billion against an advertised Ksh28 billion, representing a performance of 152.6 percent.

Meanwhile, bids for the reopened 20-year and 30-year Treasury bonds totalled Ksh81.4 billion against an advertised Ksh60 billion during the September 16 auction, translating to a performance of 135.7 percent.

At the Nairobi Securities Exchange, the NASI, NSE 25 and NSE 20 share price indices declined by 4.96 percent, 5.85 percent and 6.47 percent respectively during the week ending September 17.

Market capitalization also fell by 4.96 percent, while total shares traded and equity turnover increased by 26.46 percent and 44.75 percent, respectively.

In the international market, yields on Kenya’s Eurobonds increased by an average of 9.52 basis points during the week.

According to CBK, global inflation concerns persisted during the week ending September 17. UK headline inflation rose to 3.1 percent in August 2026, from 2.9 percent in July, mainly due to elevated global energy prices, while core inflation remained unchanged at 2.6 percent.

The US Federal Reserve raised its federal funds rate target by 25 basis points to 3.75–4.0 percent at its September 16 meeting, citing persistent inflationary pressures despite continued economic expansion and a resilient labour market.

The US Dollar Index strengthened by 1.14 percent during the week.

Murban crude oil prices, however, declined to USD94.70 per barrel on September 17 from USD95.41 on September 10, while spot gold prices rose to USD4,340.09 per ounce from USD4,315.69 in the previous week.

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CBK Reports USD 451.8 Million Rise in Remittances in August Despite Annual Inflow Decline
Someone holding Kenyan banknotes. PHOTO/CBK