Fri, 15 August
25.1 C
Yerevan
USD: 384.03 RUB: 4.80 EUR: 443.29 GEL: 142.29 GBP: 510.11

Armenia’s Central Bank expects private remittances to Armenia to grow this year by 15-17%

YEREVAN, June 15. /ARKA/. Armenia’s Central Bank expects the amount of private remittances sent to Armenia from Russia and other countries largely by labor migrants to grow this year by an average of 15-17%, Chairman of the Central Bank Martin Galstyan told reporters on Tuesday.

He said the previous forecast was 7-9%. According to him, in the first months of 2021, the amount of private remittances was on the rise, reaching in some months more than 120%.

He said during that period private remittances from USA, which has a vast Armenian community, saw a significant increase.

“During the year, we expect also the remittances from the Russian Federation to show growth, as in March-April thousands of Armenian labor migrants traveled to Russia, which traditionally accounts for about 80% of all private money transfers sent to Armenia,” Galstyan said.

He also noted that the volume of non-commercial money transfers in March increased by 145.6% and in April by 190%.

The Executive Director of the Union of Banks of Armenia Seyran Sargsyan noted earlier that private money transfers to Armenia in the first quarter of 2021 increased by 14.7% or $52 million to $406 million.

The bulk – about $154 million – came from Russia, which was followed by  the United States – $118 million, Kazakhstan – $13 million, Germany – $15 million and France – $12 million.

Money transfers abroad from Armenia in the first quarter increased by 3.9% or $10 million to $277 million. Russia accounted for about $86 million, followed by the United States – $44 million. As a result, the net inflow of foreign exchange to Armenia in the first quarter amounted to $129 million. –0–

spot_img

POPULAR

Armenia registered an inflation rate of 3.4% in July.

According to the National Statistical Committee (NSC) of Armenia, 12-month inflation in the consumer market amounted to 3.4% in July of this year.

Euro jumps 2.54 points to AMD 447.76

The average market exchange rate of the US dollar to the Armenian dram on August 7, 2025, fell by 0.03 points compared to August 6 and amounted to AMD 383.65.

Volume of loans issued by commercial banks of Armenia exceeded 7 trillion drams at the end of June

The volume of loans issued by commercial banks of Armenia as of the end of June 2025 amounted to 7,053,648 million drams against 6,866,119 million drams at the end of May.

Market capitalization in July increased by 45.3% year-on-year, exceeding 463 billion drams – Armenia Stock Exchange

Armenia Stock Exchange (AMX) has summarized the trading activity for July 2025. The month showed a dynamic trading environment, highlighting growing investor confidence and market activity. 

Armenian Central Bank unveils amendments to law On Combating Money Laundering and Terrorist Financing

On August 8, 2025, the law "On Amendments and Additions to the Law "On Combating Money Laundering and Terrorist Financing" will come into force in Armenia.

LATEST NEWS

spot_imgspot_imgspot_img