YEREVAN, December 9. /ARKA/. Over $1 197.7 million came to Armenia through banks in January-October 2016 as private noncommercial money transfers – 10.4% less than at the same period a year earlier, the Central Bank of Armenia says in a fresh issue of its monthly bulletin.
Remittances from Armenia abroad totaled $641.1 million in Jan-Oct 2016 against $598.1 million in Jan-Oct 2015 (7.2% growth).
Net inflow amounted to $556.5 million against $738 million respectively.
The bulk of the transfers received in Armenia were sent from Russia – about 60.8% of the total amount of private transfers.
Private remittances received from Russia shrank 13.6% decline in Jan-Oct 2016 to $727.7 million, while outflow from Armenia grew 30% to $280.5 million.
More than $136.5 million were received in Armenia in October 2016 (5.7% year-on-year decline).
Money transfers to Armenia contracted by 30% to $1 208.47 million in 2015.
The decline was mainly due to the reduction in remittances from Russia caused by dramatic devaluation of the Russian national currency. ($1 – AMD 482.84). –0—-
