Money transfers to Armenia grew by 19.4% in October

08.12.2017 16:51
Money transfers to Armenia grew by 19.4% in October

YEREVAN, December 8. /ARKA/. Private money transfers sent to Armenia through the banks for non-commercial purposes in 2017 October increased by 19.4% from the same month in 2016 to more than $162.9 million, the Central Bank of Armenia said. When compared to the previous month the amount was higher by only 1.6%.

The amount of money transfers sent from Armenia to other countries in the same time span surged by 52% to about $115.7 million (up from $76 million in October 2016). If compared to September 2017 the amount was higher by 22.9%. As a result, the net inflow of money transfers in October 2017 decreased by 21.7% from 2016 October and by 28.6% from 2017 September to $47.2 million.

The amount of money transfers from Russia in October 2017 increased by 22% from the same month in 2016 and by 5.3% from September 2017 to $108.2 million. The amount of money transfers from Armenia to Russia was $43.6 million, having increased by 30% from September 2017 and by 11.5% from October 2016.

According to the Central Bank, in 2016 a total of $1.532.8 billion were remitted to Armenia, down 6% from the previous year, while the amount of money transfers from Armenia grew by 7.3% to $816.9 million. As a result, the net inflow of money transfers in 2016 fell by 17% from 2015 to about $ 715.9 million. ($ 1 - 485.33 drams). -0-


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