$94.6 million received in Armenia in January 2018 as individual money transfers

01.03.2018 17:14
$94.6 million received in Armenia in January 2018 as individual money transfers

YEREVAN, March 1. /ARKA/. Over $94.6 million was received in Armenia via banks as individual noncommercial transfers in January 2018, the Central Bank of Armenia reports on its website.

This is 12.2 percent more than received in January 2017, but 51.4% less than received in December 2017.

Remittances from Armenia abroad totaled around $74.3 million in Jan 2018 against $42.6 million sent in the same month a year earlier (74.3% year-on-year growth).

As a result, net inflow shrank 51.2% in January 2018, compared with the same month a year before, to $20.3 million.

Money transfers from Russia grew 18.8% to $51.7 million, and from Armenia to Russia shrank 12.7% to $23.4 million.

According to the central bank, the inflow of remittances into Armenia amounted to $1 756.4 million in 2017 (14.5% growth), and the outflow from the country to $1 024.9 million (24.4% growth).

As a result, net inflow stood at $731.5 million showing a 2.2% growth. ($1 – AMD 480.81). -0---


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