Private money transfers sent to Armenia in the first nine months of 2021 through banks increased by about $252 million year-on-year or 23.2% to $1.340 billion, according to the Union of Banks of Armenia (UBA).
The bulk of money transfers - $549 million- came from Russia; $124 million worth remittances were sent from the USA, $45 million came from Germany, $39 million from France and $36 million from Kazakhstan, ARKA reports.
Money transfers abroad from Armenia increased by about $40 million or 5.5% to $764 million.
Some $254 million were remitted to Russia, $124 million to USA and smaller amounts were sent to other countries.
As a result, the net inflow of foreign currency to Armenia as of late August this year amounted to $576 million.
