Private remittances to Armenia increased by 23% in 2016 June from previous month to $135.27 million

02.08.2016 15:38
Private remittances to Armenia increased by 23% in 2016 June from previous month to $135.27 million

YEREVAN, August 2. /ARKA/. Private remittances sent to Armenia through the banks increased by 23% in 2016 June when compared to the previous month to $135.27 million, according to the Central Bank. However, when compared to 2015 June the amount was down 17.1%.

Remittances from Armenia abroad totaled about $54.4 million, a decrease of 17.8% when compared to 2015 June 2015. They were also down 19.48% when compared to June 2016. Thus, the net inflow of remittances in 2016 June amounted to approximately $80.8 million, a decrease of 16.6% over the same period last year, but a 92.7% growth when compared to June 2016.

Approximately 64.6% of the total private money transfers came from Russia, down from 70-80% in the previous years.

Remittances from Russia to Armenia  in June 2016 amounted to approximately $87.4 million, a decrease of 19.7% compared to June 2015, but 30% up when  compared to May 2016, while remittances from Armenia to Russia decreased by 7.3 % from 2015 June to $21.4 million. Compared to 2016 May they were down 35.9%.

Remittances to Armenia decreased by 30% in 2015 to $1.208.5 billion, due to a huge devaluation of the Russian ruble. ($ 1 - 476.38 drams). -0-


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