Private transfers to Armenia through Armenian banks exceed $265.7mln

Private transfers to Armenia through Armenian banks exceed $265.7mln

A total of $265,701,000 were transferred to Armenia as non-commercial funds through the country’s banking system in January-March 2008 – a 30.9% increase as compared with the corresponding period last year ($203,023,000).

A monthly review for March 2008 prepared by the Central Bank of Armenia (CBA) says that a total of $54,334,000 were transferred from Armenia – a 7.7% decrease as compared with the corresponding period last year ($58,869,000).

In January-March 2008, the net funds totalled $211,367,000 against $144,154,000 in the corresponding period last year – a 46.6% increase. The largest-scale inflow of funds was recorded from Russia and the USA – 90.5% against 94.6% in the corresponding period last year.
In 2007, a total of $1,319,479,000 were transferred to Armenians for individuals in 2007, the net inflow of funds amounting to $1,058,310,000.