$776.9mln was transferred to individuals through the Armenian banking system in January-July 2010. According to the RA Central Bank’s monthly bulletin, 9.1% or $77.4mln drop was recorded as compared with the same period of last year.

Meanwhile, Russia keeps the biggest share of remittances to Armenia - $515.8mln, followed by the U.S. - $71.2mln and Germany - $11.8mln. The amount of remittances from Turkey totaled $1.336mln.

Besides, the amount of remittances from Armenia totaled $380.5mln in January-July 2010 that is 3.5% higher as compared with the same period of last year.

During the reporting period, the net cash inflow decreased by 18.5% amounting to $396.4mln against $486.5mln in January-July 2009.