YEREVAN. – In September, the remittance of funds by individuals from Russia to Armenia reduced by almost $35.1 million, or 28.3 percent, on a yearly basis. 

As a result, the total amount of transmittals to individuals in Armenia decreased by $22․5 million, or 13․3 percent, in September.

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Naturally, some of this transfer of funds from Russia was in Russian rubles. But the ruble recipients in Armenia also suffered a loss, since the Armenian dram has strengthened against the ruble.

In recent years, several factors have adversely affected the dynamics of US dollar remittances from Russia. And first and foremost, this is due to the weakening of the ruble against the dollar.

The other factors are linked the domestic economic situation in Russia.