Private remittances to Armenia amounted to $137.1 million in July, 2015, against $197.4 million in the same period of last year.

According to the Central Bank of Armenia, the net inflow of private transfers to the country totaled $674 million in the first 7 months of 2015, a drop of 31% against $967.5 in the same period of 2014.

In July 2015, 81% of private remittances to Armenia, amounting to about $112 million, came from Russia. Transfers from Russia to Armenia in January-July 2015 decreased by 25% against the same period of 2014 to amount $512.2; remittances from Armenia to Russia totaled $114 million, with the net inflow of transfers totalling approx. $398 million.

The decrease in Russian transfers is caused by the devaluation of the ruble in the international markets in 2014-2015 and a drop in Russian economy.