YEREVAN, November 8. /ARKA/. The net inflow of private cross-border money transfers to to Armenia, from abroad through Armenian banking system, totaled approximately $888 million in January-September 2024, compared to $1.3 billion in the same period of 2023, according to a report by the Central Bank.
This indicator decreased by approximately 1.5 times year-on-year in the reporting period. At the same time, the net inflow of cross-border money transfers in September this year totaled $97.2 million, compared to around $97 million in September of the previous year.
The inflow of private cross-border money transfers to Armenia from abroad through the Armenian banking system, totaled about $4 billion in January-September 2024, compared to $4.3 billion in the same period of 2023.
Among the top countries for money transfers to Armenia in the first nine months of this year were Russia, with $2.6 billion, and the United States, with $505.3 million. Russia and the United States were also the leaders in money transfers to Armenia during the same period last year, with $3 billion and $483.6 million, respectively.
At the same time, the outflow of individuals’ money transfers from Armenia abroad, processed through the banking system of Armenia, totaled $3.1 billion in January-September 2024, compared to $2.9 billion in the same period last year.
In terms of money transfers from Armenia abroad, the UAE ($642.9 million) and Russia ($449.4 million) were the leaders in the reporting period of the current year. In the same period of 2023, Russia and the UAE were also the leaders, with $504.6 million and $401.1 million, respectively. -0-
