YEREVAN, January 8. /ARKA/. Private remittances to Armenia for non-commercial purposes in November 2015 were 22% down from the year before falling to about $90.8 million, the Central Bank said. Compared with 2015 October the amount was down by 17%.
Remittances from Armenia to other countries in 2015 November fell to $22.4 million from $26.3 million in 2014 November. Compared to 2015 October the amount was down by 23%. The net amount of remittances in 2015 November amounted to approximately $68.4 million, down from $90.2 million in November 2014, a 14% decline.
The bulk of the money – about 74.9% of the total private transfers – came from Russia. Remittances from Russia decreased by 28.4% compared with November 2014 to about $68 million, a decline of 20% from 2015 October, while remittances from Armenia to Russia slashed by 30% to $13 million.
In 2014 remittances to Armenia fell by 7.5% to $1.73 billion (15.7% of the GDP). The drop was caused largely by the depreciation of the Russian ruble, which lost about 50% of its value against the US dollar ($ 1 – 483.75 drams). -0-
