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Seda Hergnyan

Overseas Bank Transfers to Armenia Drastically Drop

Overseas bank transfers to Armenia amounted to US$104.5 million in April of this year. According to Armenia’s Central Bank, this amount is 31% less when compared to April 2015.

Bank transfers in the opposite direction amounted to $68.5 million, up 11.5% when compared to April 2015.

60% of the total transfers entering Armenia in April of this year originated in Russia, and 13.5% came from the United States. In the case of Russia, this percentage is down 15% from April of 2015. The percentage of transfers from the U.S. remained basically unchanged from April of last year.

40.5% of the total transfers from Armenia in April went to Russia - up 32% when compared to April of 2015).

11% went to the United States in April of this year – down 12% from April of last year. 

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