Fri, 24 October
15.1 C
Yerevan
USD: 382.54 RUB: 4.70 EUR: 443.29 GEL: 140.81 GBP: 510.19

Slowing growth in individual remittances VIA armenian banks may weaken national currency

YEREVAN, November 13. /ARKA/. No growth was recorded in individual money transfers operated through Armenian banks in Jan-Sept 2012, compared with the pre-crisis period of time, Orakarg (Agenda) newspaper reports.

In Jan-Sept 2008, individual remittances totaled $1.2 billion, while in Jan-Sept 2012 they amounted to $1.186 billion.

The newspaper says that the showing growth in individual money transfers may affect the Armenian national currency’s value.

Money transfers operated via Armenian banks grew 8.6% or by $94.2 million in Jan-Sept 2012, while in 2010 they grew 23.3% or by $206 million.

According to the source, 85% of individual remittances in 2012 came from Russia, while in Jan-Sept 2011 Russia accounted for 83% of the individual money transfers received in Armenia. -0—

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Armenia is experiencing an investment boom: opportunities, barriers and main misconceptions

Armenia's investment market is experiencing a period of active development: the number of issues is growing, digital technologies simplify access to financial instruments.

Moody’s upgrades Converse Bank’s ratings

Moody's Ratings has upgraded Converse Bank CJSC's long-term local and foreign currency bank deposit ratings to Ba3 from B1, aligning the Bank’s rating with Armenia’s sovereign rating.

“We want the word ‘investor’ in Armenia to mean normality, not elitism” – Freedom Broker Armenia

ARKA news agency spoke with Freedom Broker Armenia Director Ovak Ovakimian about the transformation of investment thinking, company strategy and trust as an economic value.

Investor of the new era: how the capital management culture is changing in Armenia

Interest in investments in Armenia is growing, but it is too early to talk about an established capital management culture.

LATEST NEWS

spot_imgspot_imgspot_img