Diaspora inflows to stabilise currency as US economy grows

High returns in local market seen attracting Kenyans to send money home. FILE PHOTO | NMG

What you need to know:

  • The US economy is seen gaining further momentum on favourable policies including prospects of tax cuts in 2018.
  • Stronger growth in the US is likely to help maintain the momentum in diaspora remittances, a key factor which helped keep the shilling largely stable against the greenback in 2017.

Dollar flows from Kenyans living abroad are expected to continue helping the shilling maintain its relative stability this year, analysts citing stronger growth outlook in the US say.

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