The Kenya shilling continued to weaken due to importer dollar demand from the energy sector and Central Bank of Kenya (CBK) limitations in preventing the local unit from weakening.
On Tuesday, Commercial banks quoted the shilling at 102.75/85 to the dollar, compared with Monday’s close of trading at 101.75/85.
Diaspora remittances hit Sh76.93 billion in the first half of 2015, official data released by the Central Bank of Kenya (CBK) shows.
This is an increase of 9.2 percent compared to Sh70.4 billion recorded in the same period last year.
Last month, Kenyans living abroad sent home Sh13.87 billion, a jump of 17.1 percent compared to Sh12.08 billion in June 2014.
Kenya Revenue Authority (KRA) collected a record Ksh1.001 trillion in taxes last financial year which ended June 30, 2015.
The higher revenue collection was 3.86 percent more than 2013/2014 financial year’s Ksh963.8 billion, official data shows.
National Treasury Cabinet Secretary Mr. Henry Rotich says in the statement of Actual Revenues and Net Exchequer Issues for the period to June 30 published in the Kenya Gazette last Friday.