YEREVAN, December 7. /ARKA/. Money transfers from Armenia to abroad in the first 10 months of 2018 amounted to $951 million, having surged by 22% from the same period last year, according to numbers, placed on the official website of the Central Bank of Armenia.

The amount of private money transfers sent to Armenian through the banks in the same time span for non-commercial purposes grew by 4.1% to more than $1.456.2 billion. As a result, the net inflow of money transfers to Armenia decreased by 18.3% year-on-year to $505.1 million.

The amount of money transfers from Armenia to Russia increased by 24.5% to $385 million, and the amount of remittances from that country to Armenia also increased by 1.6% to $867 million.

The amount of money transfers to the United States also grew by 13. 5% to $152.1 million, however, the amount of money transfers from USA to Armenia also increased by 21.4% to $144.7 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 – 485.26 drams). -0-