YEREVAN, March 13. /ARKA/. Forecasts for reduction of money transfers from Russia to Armenia due to devaluating ruble and new Russian migration policy have not justified so far, says Hayots Ashkharh (Armenian World) newspaper

In particular, transfers from Russia to Armenia rose by 15.4% in January compared to the same period of 2013. Private money transfers exceeded $80 million, about 81% of all transfers to Armenia, as compared to about $65.3 million or 78.5% in January 2013.

Yet, the situation may change later mainly due to ruble devaluation trends, according to the newspaper.

In early 2014 Russia enforced amendments to its laws about entry/exit and status of foreign citizens. According to the amendments, foreign citizens from visa-free countries (including Armenia) are allowed to stay in the territory of the Russian Federation for 90 days during each 180 days’ period.

The ruble has tended to devaluate versus dram since the beginning of this year. Russian ruble dropped by 6.3% over the first two months (12.26 drams per ruble on January 8).–0--