Private remittances to Armenia in November 2015 fell by 22% from the year before to about $90.8 million

08.01.2016 18:39
Private remittances to Armenia in November 2015 fell by 22% from the year before to about $90.8 million

YEREVAN, January 8. /ARKA/. Private remittances to Armenia for non-commercial purposes in November 2015 were 22% down from the year before falling to about $90.8 million, the Central Bank said. Compared with 2015 October the amount was down by 17%.

Remittances from Armenia to other countries in 2015 November fell to $22.4 million from $26.3 million in 2014 November. Compared to 2015 October the amount was down by 23%. The net amount of remittances in 2015 November amounted to approximately $68.4 million, down from $90.2 million in November 2014, a 14% decline.

The bulk of the money - about 74.9% of the total private transfers – came from Russia. Remittances from Russia decreased by 28.4% compared with November 2014 to about $68 million, a decline of 20% from 2015 October, while remittances from Armenia to Russia slashed by 30% to $13 million.

In 2014 remittances to Armenia fell by 7.5% to $1.73 billion (15.7% of the GDP). The drop was caused largely by the depreciation of the Russian ruble, which lost about 50% of its value against the US dollar ($ 1 - 483.75 drams). -0-


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