Remittances from Armenia reach over 950 million dollars
Money transfers from Armenia to abroad in the first 10 months of 2018 amounted to 951 million US dollars, having surged by 22% from the same period last year, according to numbers, placed on the official website of the Central Bank of Armenia.
The amount of private money transfers sent to Armenian through the banks in the same time span for non-commercial purposes grew by 4.1% to more than 1.456.2 billion dollars. As a result, the net inflow of money transfers to Armenia decreased by 18.3% year-on-year to 505.1 million dollars.
The amount of money transfers from Armenia to Russia increased by 24.5% to 385 million dollars, and the amount of remittances from that country to Armenia also increased by 1.6% to 867 million dollars.
The amount of money transfers to the United States also grew by 13. 5% to 152.1 million dollars, however, the amount of money transfers from USA to Armenia also increased by 21.4% to 144.7 million dollars.