In March private remittances grow by 3.4 percent from February

Private remittances sent to Armenia in 2016 March through banks for non-commercial purposes increased by 1% from the previous month to more than $107.9 million, the Central Bank of Armenia said.

YEREVAN, May 2. /ARKA/. Private remittances sent to Armenia in 2016 March through banks for non-commercial purposes increased by 1% from the previous month to more than $107.9 million, the Central Bank of Armenia said. It also said when compared with 2015 March the remittances were down by 4.6%.
The amount of remittances from Armenia abroad in 2016 March totaled about $69.8 million, an increase of 1% from the previous month and a 12.8% increase from 2015 March.

The net inflow of remittances in 2016 March amounted to approximately $38 million, which was by 1.1% more from the previous month, but when compared to 2015 March the amount was down by 25.6%.

More than half of the remittances- 55% of the total or $59.3 million - came from the Russian Federation. They were by 1.3% more than in February 2016 and 2.8% down from 2015 March. Remittances from Armenia to Russia in 2016 March were $35.3 million, by 1% more from 2016 February and 47.74% more from 2015 March.

In 2015 private remittances to Armenia slashed by 30% from the previous year to $1.208 5 billion because of the dramatic depreciation of the Russian ruble and a decline of Russian economy.  ($1 – 478.61 drams). -0-