$479.9mln was transferred to individuals through the Armenian banking system in January-May 2010. According to the RA Central Bank’s monthly bulletin, 4.2% or $19.2mln growth was recorded as compared with the same period of last year.

Meanwhile, Russia keeps the biggest share of remittances to Armenia - $308mln, followed by the U.S. - $48.1mln and Germany - $8.6mln. The amount of remittances from Turkey totalled $957,000.

Besides, the amount of remittances from Armenia totalled $244.3mln in January-May 2010 that is 17.3% higher as compared with the same period of last year.

During the reporting period, the net cash inflow decreased by 6.6% amounting to $235.5mln against $252.3mln in January-May 2009.