In February 2024, the volume of money transfers through commercial banks in Armenia decreased by 42.5% compared to the same period last year, amounting to $410.5 million.
At the same time, compared to February 2022 and 2020, the volume of money transfers increased by 2.3 and 3.1 times respectively.
Data presented by the Central Bank of Armenia indicate an increase in the volume of money transfers to Armenia by 13.8% compared to the previous month.
At the same time, the outflow of funds through commercial banks decreased by 11.7% compared to the previous month and by 24.2% compared to February of the previous year.
"The net inflow of money transfers to Armenia in February 2024 amounted to over $121 million, which is 3.7 times higher than the previous month," the Central Bank states.
