Over $105.5 million remitted to Armenia through banks in February

04.04.2014 15:48
Over $105.5 million remitted to Armenia through banks in February

YEREVAN, April 4. / ARKA /. Over $105.5 million were remitted to Armenia by individuals through banks in February for non-commercial purposes, the Central Bank reported today saying the figure represented a 2% rise compared with February 2013.

It said the amount of remittances in 2014 February was 5.9 % higher form the previous month of January.

Remittances from Armenia abroad rose to about $29.3 million versus $23.9 million in February 2013, the regulator said. As a result the net cash inflow in February this year was approximately $76.2 million, down from $79.4 million in February last year.

The bulk of remittances –about 79 percent or $83.3 million - comes as usual from Russia (down 2%). Likewise the bulk of remittances from Armenia abroad- $66.7 million – went to Russia (up 7.1%).

According to the Central Bank, last year a total of $1.869.7 billion or 17.3% of GDP were remitted to Armenia. ($1 - 414.84 drams). -0-


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