During January – February 2012 transfers to Armenia totaled to $170 million, the Central Bank’s February report states.

Compared to the first two months of 2011, the transfers increased by 13.3 percent. The increase is due to transfers from Russia. In the first two months of 2012, $137 million was transferred from Russia.

The transfers from Turkey also increased and totaled $357 thousand instead of $214 thousand.