Private remittances to Armenia totaled $261.7mln in first quarter of 2010

May 10, 2010 - 18:21 AMT

PanARMENIAN.Net - $261.7mln was transferred to individuals through the Armenian banking system in January-March 2010. According to the RA Central Bank’s monthly bulletin, 0.03% or $86,000 drop was recorded as compared with the same period of last year.

Meanwhile, Russia keeps the biggest share of remittances to Armenia - $162.8mln, followed by the US - $29.5mln and Germany - $4.7mln. The amount of remittances from Turkey amounted to $665,000.

Besides, the amount of remittances from Armenia totaled $138.6mln in January-March 2009 that is 5.4% higher as compared with the same period of 2009. During the reported period, the net cash inflow decreased by 5.5% amounting to $123.1mln against $130.3mln in January-March 2009.

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