{"id":9100,"date":"2023-09-14T08:56:40","date_gmt":"2023-09-14T08:56:40","guid":{"rendered":"https:\/\/qiraatafrican.com\/en\/?p=9100"},"modified":"2023-09-14T08:56:40","modified_gmt":"2023-09-14T08:56:40","slug":"kenyas-central-bank-limits-sale-of-dollars-by-remittance-firms","status":"publish","type":"post","link":"https:\/\/qiraatafrican.com\/en\/9100\/kenyas-central-bank-limits-sale-of-dollars-by-remittance-firms\/","title":{"rendered":"Kenya&#8217;s central bank limits sale of dollars by remittance firms"},"content":{"rendered":"<p class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__small__1kGq2 body__full_width__ekUdw body__small_body__2vQyf article-body__paragraph__2-BtD\" data-testid=\"paragraph-0\"><a href=\"https:\/\/qiraatafrican.com\/en\/?s=kenya\">Kenya<\/a>&#8216;s central bank has capped the amount of dollars that money transfer companies can sell to an individual customer at $100,000 per day, a central bank letter to the firms shows.<\/p>\n<p class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__small__1kGq2 body__full_width__ekUdw body__small_body__2vQyf article-body__paragraph__2-BtD\" data-testid=\"paragraph-1\">The firms, which provide cash remittance services to those living abroad, will be required to sell any hard currency amounts exceeding $100,000 only to commercial banks, the regulator said in the letter dated Wednesday and seen by Reuters on Thursday.<\/p>\n<p class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__small__1kGq2 body__full_width__ekUdw body__small_body__2vQyf article-body__paragraph__2-BtD\" data-testid=\"paragraph-2\">The move was caused by an observation that the firms have been participating in the wholesale foreign exchange market without complying with the various guidelines, standards and code that govern that segment, the central bank said.<\/p>\n<p class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__small__1kGq2 body__full_width__ekUdw body__small_body__2vQyf article-body__paragraph__2-BtD\" data-testid=\"paragraph-3\">The move will create a fair and orderly market, the bank said. The Kenyan shilling has been under sustained pressure from the dollar for more than a year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kenya&#8216;s central bank has capped the amount of dollars that money transfer companies can sell to an individual customer at $100,000 per day, a central bank letter to the firms shows. The firms, which provide cash remittance services to those living abroad, will be required to sell any hard currency amounts exceeding $100,000 only to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9101,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":5,"jnews-multi-image_gallery":[],"jnews_single_post":{"source_name":"Reuters","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"1","single_blog_custom":"","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"0","show_view_counter":"0","show_featured":"1","show_post_meta":"1","show_post_author":"0","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"0","show_post_reading_time":"0","post_reading_time_wpm":"300","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"0","show_popup_post":"0","number_popup_post":"1","show_author_box":"0","show_post_related":"1","show_inline_post_related":"1"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":"","hide":""},"jnews_social_meta":[],"jnews_override_counter":{"override_view_counter":"0","view_counter_number":"0","override_share_counter":"0","share_counter_number":"0","override_like_counter":"0","like_counter_number":"0","override_dislike_counter":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[29,32],"tags":[1438,111],"class_list":["post-9100","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-africa","category-economy","tag-central-bank","tag-kenya"],"_links":{"self":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/9100","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/comments?post=9100"}],"version-history":[{"count":0,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/9100\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media\/9101"}],"wp:attachment":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media?parent=9100"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/categories?post=9100"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/tags?post=9100"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}