Money transfers from Russia to Azerbaijan reach $497 million in 2024

According to Samir Nasirov, head of the Central Bank's statistics department, money transfers to Azerbaijan from abroad reached $1 billion last year, with about 50% of them coming from Russia ($497 million).

Türkiye and the USA made it into the top three along with Russia, transferring $150 million and $65 million, respectively.

Azerbaijan, in turn, transferred about $520 million. Türkiye was first on the list with $150 million, followed by the USA ($60 million), Russia ($58 million), and Georgia ($45 million).

Let us remind you that Baku and Tbilisi have agreed to integrate their banking payment systems. The cooperation document was signed by the Central Bank of Azerbaijan and the National Bank of Georgia.