Wed, 3 September
28.1 C
Yerevan
USD: 384.03 RUB: 4.80 EUR: 443.29 GEL: 142.29 GBP: 510.11

Private remittances to Armenia in September up by 0.37%

YEREVAN, November 3. /ARKA/. Private remittances sent to Armenia via banks in 2016 September increased by 0.37% when compared to the previous month to $146.8 million, according to the Central Bank of Armenia. However, when compared to 2015 September the amount was down 13.27%.

Remittances sent from Armenia abroad totaled about $80.2 million, an increase of 27.7% compared with September 2015 and an increase of 33.42% compared with the previous month of August. Thus, the net inflow of remittances in 2016 September amounted to approximately $66.6 million, which was 37.45% less than in the same period last year and 22.6% less when compared to 2016 August.

Approximately 60.6% of the total remittances came from Russia, down from 70-80% in the previous years.

More specifically, remittances sent from Russia in 2016 September slashed by 28.2% from the year ago to approximately $89 million. Compared to 2016 August their amount was down by 11.6%. The outflow of remittances from Armenia to Russia increased by 27.7 % year-on-year to $27.9 million, but when compared to 2016 August the amount was up by 25.4%. Armenia’s Central Bank expects a 6-8% drop in the amount of remittances from Russia this year.

In 2015 remittances to Armenia decreased by 30% from the previous year to $1.208.5 billion, blamed on economic crisis in Russia and dramatic depreciation of its ruble. ($ 1 – 475.84 drams). -0-

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Cryptocurrency in Armenia: Stringent Regulations and Elevated Expectations

The future of cryptocurrencies in Armenia was a topic of discussion among participants at the Armenian Cryptocurrency Assets Forum, which recently took place in Yerevan.

Measures to encourage cashless transactions discussed in Armenia

The Armenian government, chaired by Prime Minister Nikol Pashinyan, convened a meeting yesterday to deliberate on initiatives aimed at promoting cashless transactions, the government press service reported.

ArCa payment system reinstated

The Armenian Card (ArCa) payment system has been completely reinstated, according to a report from the company's press service.

Net loan portfolio of Armenian banks in Q2 2025 increased by 6.11% to AMD 6.8 trillion

The combined loan portfolio of 17 Armenia-based commercial banks upped  by 6.11% in Q2 2025 compared to Q1 2025, amounting to AMD 6.82 trillion, according to a ranking compiled by  the ARKA news agency.

LATEST NEWS

spot_imgspot_imgspot_img