Cash transfers from Russia to Armenia drop by 36%

The level of cash transfers from Russia to Armenia has dropped by 36.1% in comparison with 2014, reaching $916 million, the Central Bank of the Republic said.

Russian-Armenian cash transfers amounted to 76% of all Armenia’s transfers. Transfers from the US increased by 15.2% to $119.4 million.

The total volume of private transfers sent to Armenia through the banking system of the country for non-commercial purposes in 2015 has dropped by 30% in comparison with 2014, reaching $1.2 billion, Interfax reports.