YEREVAN, December 7. /ARKA /. Individual money transfers to Armenia in the first ten months of 2011 through commercial banks surged by 23.9% or $292 million year-on-year to about $1.6 billion, the Central Bank of Armenia said in a statement, posted on its official website.

Money transfers from Armenia to other countries in the same time span were said to have grown by 12.1% to $580 million. Net money transfers to Armenia stood at about $909.1 million, up from $687.2 million from a year earlier rising by 32.3%. Net money transfers in October 2011 grew by 40.2% from September to $179.3 million . The largest inflow of net money transfers, about $938.7 million, came, as usual, from Russia.-0-