In 2009, total amount of private transfers to Armenia reduced by 30.6% compared to 2008, making $1.576 bn. Personal remittances from Russia made $950m which is 35% less as compared to 2008 ($1.462 bn).

The amount of bank transfers from Armenia totaled $752m (33% less than in 2008), RA Central Bank bulletin reads. NEWS.am reports that overall $190.1m was transferred to Russia, whereas in 2008 the some came to $164.5m.

Within last year, Armenians received 60% of transfers from Russia, while 7.3% – from the U.S.

A.G.