YEREVAN, December 9. /ARKA/. Individual money transfers sent to Armenia via banks in October 2022 amounted to $618.1 mln, up from $551.5 mln., sent in September, according to the Central Bank.

Russia accounted for about $483 million ($416.1 million in September) of the total and the USA for $58.4 million ($58.8 million in September).

A total of $4.1 billion were transferred to Armenia from abroad in the first 10 months of this year, compared to $2.1 billion in 2021.

The bulk of remittances are sent home by thousands of Armenian labor migrants working in Russia and some other countries. Money transfers to Armenia have risen sharply this year also after  thousands of Russian nationals moved to Armenia following Russia’s 'special military operation' in Ukraine. -0-