YEREVAN, March 15. /ARKA/. The net inflow of private cross-border remittances to Armenia sent through banks slashed to $32.8 million in January 2024 against $170.2 million in the first month of 2023, the Central Bank's report said.

Overall, about $360.7 million came into Armenia in private remittances in January 2024, down from $386.1 million sent in the first month of 2023.

The bulk of the funds came from Russia ($234.2 million), the United States ($45.2 million) and Hong Kong ($7.5 million).

In January 2023, Russia ($281.2 million), the US ($40.3 million) and Switzerland ($5.5 million) rounded out the top three senders.

At the same time, the outflow of private remittances from Armenia in January 2024 increased to $327.9 million against $215.9 million in the first month of last year.  

The UAE - $51.8 million, Switzerland - $47.9 million and the United States - $41.8 million were the leaders in terms of remittances from Armenia during the reporting period.

In January 2023, the top three were UAE - $41.5 million, USA - $29.7 million and Russia - $27 million.