YEREVAN, June 7. / ARKA /. Individual money transfers to Armenia through the banking system in the first four months of 2011 showed a 23.8% rise from a year before to $357 million, the Central Bank of Armenia said in its monthly information bulletin. In terms of money the rise amounted to $68.5 million.

The volume of money transfers from Armenia to other countries grew by 13.6% year-on-year to $73.3 million. The net inflow of money transfers in 2011 January-April totaled $283.7 million, growing by 26% from the first four months of 2010. Russia was again the source of the largest net inflow of money transfers that was -$242.9 million.

According to the bulletin, in April 2011 a total of $105.7 million were remitted to individuals in Armenia, up from $101.8 million from March and from $84.9 million from a year earlier. ($1 – 376.56 drams). -0-

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Money supply in Armenia grew 3.5% or by AMD 31.4 billion in March, compared with February, to AMD 925.9 billion.

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The money stock of Armenia’s Central Bank, commercial banks and credit organizations grew 3.5% in March 2011, compared with the previous month, to AMD 925.9 billion.

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Insurance money of Armenian insurers drop by 6 percent in Q4, 2010.

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Individual money transfers to Armenia operated by banks and other money-transferring organizations totaled AMD 191 billion at the fourth quarter 2010 – 14% year-on-year growth.

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VTB Bank (Armenia) will participate in RIA MONEY TRANSFER system, the bank’s press office reported on Thursday.

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Money supply in Armenia contracted by 3.8% or AMD 34.9 billion in January 2011, compared with December 2010, to about AMD 876.4 billion.

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Money supply of Armenia increased by 72.1 billion drams or 6% making about 911.4 billion drams in December versus November 2010.

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Money base of Armenia increased by 10837 million drams in November 2010 or by 2.4% making about 455.2 billion drams.

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The volume of paper money payments through Armenia’s Central Bank’s system increased by 11% in the third quarter of 2010 if compared to the same period of time 2009, while the number of payments increased by 1%, according to the Bulletin of Central Bank of Armenia for the third quarter of 2010.

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