YEREVAN. - Between January-April, 2011 noncommercial bank transfers to Armenia amounted at $357 million, says document issued by Central Bank of Armenia (CBA). Compared to relevant period of last year, the volume of transfers increased approximately by 24 percent.

The growth is substantially based on Russian sources, probably due to rise of oil prices and economic recovery of this country. Volume of transfers from Russia for four months is estimated at $281, constituting 78.7 percent of the overall figure.