YEREVAN, October 25. /ARKA/. Cross-border individual remittances sent to Armenia through the banks in the first 8 months of 2023 exceeded $3.8 billion, up from $2.9 billion, sent in the same time span of 2022, the Central Bank said.

Remittances from the Russian Federation amounted to $2.7 billion from $1.9 billion a year ago, increasing 1.4 times.

Remittances from the U.S. decreased: to $430.6 million from $433.8 million in January-August last year.

At the same time, individual remittances from Armenia to foreign countries through the banks amounted to $2.6 billion from $1.5 billion a year ago.

Remittances to the Russian Federation amounted to $460.3 million against $256.5 million, while remittances sent to the USA grew to $288.1 million from $174 million a year ago.

The net inflow of remittances in the first 8 months totaled $1.2 billion, up from o $1.4 billion in January-August 2022. -0-