YEREVAN, August 13. /ARKA/. More than $164.2 million were remitted to Armenia in 2018 June via banks as private money transfers for non-commercial purposes, which was by 1.2% more than the figure for June 2017, the Central Bank said. According to the Central Bank, money transfers in June 2018 grew by 17.5% when compared with the previous month of May.

Money transfers from Armenia to other countries dropped to about $76 million from $85.8 million in June 2018. Their amount when compared to May 2018, declined by 17.7%. As a result, the net inflow of remittances in June 2018 grew by 42.7% from 2017 June to $88.1 million. Compared to 2018 May, there was an increase of 37%.

The remittances from Russia to Armenia in June 2018 increased by 10.3% from the year before to $105.1 million. Compared to May 2018, there was an increase of 23.6%. The outflow of money from the country to the Russian Federation decreased by 13.7% to $29.8 million.

According to the Central Bank, $1.756.4 billion were remitted to Armenia as private money transfers in 2017, by 14.5% more from the previous year, while money transfers from Armenia to other countries grew by 25% to $1.024.9 billion. As a result, the net inflow of money transfers in 2017 was about $731.5 million, an increase of 2.2% from 2016. ($ 1 - 482.16 drams). -0-