YEREVAN, July 1. /ARKA/. The net influx of cross-border money transfers to individuals in Armenia amounted to $449.4 million in January-May 2024 compared to the $767.3 million in the five months of 2023, Armenia’s Central Bank reported on Monday.
Thus, this indicator decreased by almost 1.7 times during the reporting period.
At the same time, in May 2024 the net influx of cross-border transfers amounted to $121.8 million compared to $47.5 million in May last year.
Russia with $1.4 billion and the United States with $270 million lead the list of countries that transferred the most money. At the same time, Russia and the United States were leaders in transfers to Armenia also in the same period last year ($1.8 billion. and $249.4 million, respectively).
At the same time, the outflow of money transfers from Armenia to foreign individuals amounted to $1.6 billion compared to $1.7 billion in January-May last year.
The most popular destinations of money transfers from Armenia were the UAE with $282.5 million and Russia with $249.3 million.
