ARMENIAN PHYSICAL BODIES GET 34% MORE NON-COMMERCIAL MONEY TRANSFERS FROM ABROAD THIS JANUARY

ARKA
March 14, 2008

YEREVAN, March 14. /ARKA/. The net inflow of non-commercial funds
received by Armenian physical bodies in January 2008 increased 34.1%
as compared to last year’s showing.

The RA Central Bank report on March 2008 refinancing rates shows
similar net inflow showings recorded in March of 2008 and 2007.

A slight slow-down was recorded in the growth rates of the inflow of
non-commercial transfers made by physical bodies. The January 2008
showing was 28% while it was 32% in 2007.

Meanwhile, 12.1% outflow of such funds was recorded in January 2008
as against 30.1% of 2007.

In addition to the traditional SWIFT system, the commercial banks
and non-bank organizations in Armenia use the following quick money
transfer international systems – Western Union, Money Gram, Anelik,
Unistream, Interexpress, Contact, Lider, Migom, Privat Money Transfer,
STB Express, Faster, Travelex, Stefi, etc.

According to the RA Central Bank, the total volume of money
transfers received by Armenian physical bodies via commercial banks
and organization in 2007 was AMD 599bln which exceeded 7% the same
showing of 2006. The outflow showing totalled AMD 343bln recording 7%
growth. ($1= AMD 309.21).