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June 18
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YEREVAN. – For the past several days, Zhoghovurd (People) daily has been receiving phone calls from people who say that that their relatives in the Russian Federation (RF) are unable send money to the Republic of Armenia (RA). Banks in Russia turn down these people, arguing that remittances to Armenia are banned for some time, the newspaper reported.

“It turns out that this problem also exists in the case of persons who make money transfers from Kazakhstan.

“On this issue, RA Central Bank Governor Arthur Javadyan stated, in a conversation with reporters, that there is no obstacle in Armenia in connection with receiving money from Russia or Kazakhstan. In his words, the problem relates to the local banking system [in Russia and Kazakhstan].

“However, Zhoghovurd daily learned that the reason is the possible fluctuations in the foreign currency market in Kazakhstan. In other words, the Kazakh [national currency] tenge is depreciating against the US dollar. And some banks in the country, unwilling to take out the dollar, refuse to make money transfers.

“According to Kazakh economists, (...) the Russian ruble has depreciated by 2 percent, and which has left its effect on the tenge,” Zhoghovurd wrote.

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