YEREVAN, October 1. /ARKA/. More than $160.46 million were remitted to Armenia as private money transfers in 2018 August for non-commercial purposes, by 8% less than in August 2017, the Central Bank of Armenia said today. According to it, money transfers in August, 2018 were down by 10.56%, when compared to the previous month.

Also about $96.5 million were remitted from Armenia to other countries, up from $75.4 million in August 2017, but when compared to the July 2018, their amount increased by 28%. As a result, the net amount of money transfers to Armenia dropped by 35. % year-on-year to $63.8 million. Compared to 2018 July their amount was, however, up by 21%.

Money transfers from Russia in August 2018 decreased by 14% compared to August 2017 to $102.2 million. Compared to July 2018, they declined by 8.64%. The amount of money transfers from Armenia to the Russian Federation increased by 63.15% to $40.6 million, and dropped by 1.8% when compared to July 2018.

According to the Central Bank, in 2017 a total of $1.756.4 billion were remitted to Armenia (an increase of 14.5% from the previous year), while the amount of money transfers from Armenia to other countries increased by 25.4% to $1.024.9 billion. As a result, the net amount of money transfers to the country stood at about $731.5 million, an increase of 2.2% from 2016.-0-