YEREVAN, May 11. /ARKA/. Individual transfers operated by banks in Armenia grew 0.14% in the first quarter 2016, compared with the same period a year before, to $273.2 million, the Central Bank of Armenia says in a fresh issue of its monthly bulletin.
Over $107.9 million came to Armenia as individual money transfers in March alone – 1% more than in the previous month and 4.6% less than in March 2015.
According to the bulletin, about $180.5 million has been transferred from Armenia abroad over the first quarter of this year – 8.7% growth.
Thus, net inflow of remittances amounted to $92.6 million in the 1st Q 2016 – 13.2% less than at the same quarter a year earlier.
Russia, with 50.1%, dominated Armenia’s total private remittances. In past years, its share was 70 to 80%.
Money transfers from Russia totaled about $136.9 million (8.1% decline), and remittances from Armenia to Russia amounted to $86.4 million (43.7% growth).
Transfers to Armenia shrank 30% over 2015 to $1 208.47 million. Decline in private remittances was mainly due to the Russian national currency’s tremendous fall. ($1 – AMD 479.03). –0—-
