YEREVAN, October 3. /ARKA/. Private money transfers sent to Armenia in 2017 August grew by 19% when compared to 2016 August, to more than $174.5 million, the Central Bank of Armenia said in a statement, posted on its official website. But when compared to the previous month of July, money transfers in 2017 August were down by 0.35%.

Money transfers from Russia increased by 18% when compared to August of the previous year, and by 3.9% if compared to the previous month (July 2017), amounting to $118.9 million. In August the outflow of money from Armenia to the Russian Federation fell by 14% from July to $24.9 million, but when compared to 2016 August, they were up 11.6%.

The amount of money transfers from Armenia to other countries amounted to about $76.9 million against $60.1 million in August 2016. Net money transfers in 2017 August grew to about $97.5 million against $86.1 million in August 2016 (an increase of 8.2% over 2017 July).

Private remittances sent to Armenia via banks in 2016 dropped by 6% from the year earlier to more than $1.5 billion, according to the Central Bank. However, the amount of remittances from Armenia to other countries increased by 7.36% to $816.9 million. As a result, the net inflow of remittances fell to about $715.9 million (a 17.7% decline). ($1 – 478.27 drams). -0-