YEREVAN, December 6 / ARKA /. Private money transfers sent to Armenia for non-commercial purposes in October 2018 grew by 8.6% from the year before to more than $177.1 million, the Central Bank said. It said also money transfers in October 2018 rose by 16.7% or $25.4 million from the previous month.

The amount of money transfers from Armenia to other countries amounted to about $121.4 million against $107.5 million in October 2017, having increased by 12.9%. Compared to 2018 September the growth amounted to 22.7%.

As a result, the net money transfers sent to Armenia in October 2018 increased by 0.32% compared to the same period of 2017, reaching $55.6 million. They were also 5.5% higher than in September 2018.

The volume of money transfers to Armenia from Russia in October 2018 dropped by 10.2% from October 2017 to $97.1 million. The volume of money transfers from Armenia to Russia grew by 36.6% to $59.6 million (a 10.9% increase when opposed to September 2018.

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 - AMD 485.12). -0-