Sun, 15 June
23.1 C
Yerevan
USD: 384.44 RUB: 4.83 EUR: 434.11 GEL: 140.51 GBP: 515.15

Private noncommercial remittances to Armenia increased 14.5% to more than $312.9 million in Jan-March 2017

YEREVAN, May 19. /ARKA/. More than $312.9 million has been received in Armenia through banks over a period between January and March 2017 as private noncommercial transfers, the Central Bank of Armenia reports on its website.

This amount is 14.5% larger than received at the same period a year before.

Over $127.1 million came to Armenia in March alone showing an 18.1% year-on-year growth and a 26% month-on-month growth.

The remittances have grown at the mentioned period mainly because the inflow of money transfers from Russia intensified, while the outflow from Armenia dwindled.

The inflow from Russia grew 20.7% in Jan-March 2017, compared with the same period a year earlier, to $165.2 million, while the outflow from Armenia to Russia shrank 213.5% to $66.1 million.

In total, $183.5 million was transferred from Armenia abroad in the first quarter of 2017 against $180.5 million in the 1st Q 2016, and net inflows totaled around $129.4 million against $92.6 million respectively.

According to the Central Bank of Armenia $ 1 532.8 million was received in Armenia in 2016 (a six-percent decline) and AMD 816.9 million was transferred outside (a 7.3% growth). As a result, the net inflow amounted to $715.9 million showing a 17-percent decline. –0—-

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

US dollar exchange rate slightly down, those of euro and ruble up

The average market exchange rate of the U.S. dollar to the Armenian dram on May 13, 2025, decreased by 0.78 points compared to May 12 and amounted to 388.08 drams.

High profitability of Armenian banks in 2024 was facilitated by growth in net interest income and low level of credit losses – Galstyan

High profitability was recorded in the banking system of Armenia at the end of 2024, which was facilitated by growth in net interest income and low level of credit losses, said Martin Galstyan, Chairman of the Central Bank of the Republic, presenting the financial stability report for 2024.

LATEST NEWS

spot_imgspot_imgspot_img