Sign in or 
Welcome! This is a website that everyone can build together. It's easy!
Share this
Transfer Money to Armenia
 Over $1.4 billion was sent to Armenia in 2007, making international money transfer more pertinent to the economy. With over 300,000 migrants in a population of 3 million, 10% is abroad and sending funds to Armenia. This accounts for as much as 15% of the gross domestic product (GDP). Recently, Internet fund transfer using prepaid debit cards has become the most popular choice for transferring money to Armenia. Because these cards offer low pricing and expediency, it in turn, has a positive impact on the inflow of money.The official currency of Armenia is the Dram (AMD). The Dram was reintroduced in 1993 with Armenia's independence from the previous USSR. The currency follows a floating rate regime and is largely dictated by the supply and demand of the US dollar. The currency has gradually grown since it was introduced. The new currency exchange rate of Drams to US$ is 490 (2000), 504 (2001), 535 (2002),570 (2003), 522 (2004), 459 (2005), and 395 (2006). Monetary growth has averaged over 13% in recent years. Armenian autonomy in 1991 turned the economy upside-down with a 60% drop in GDP. Small-scale agriculture came to dominate in place of the past agro-industrial complexes under Soviet regime. Inflation and unemployment continue to decrease. In 2007, the CIA reports inflation at 4.4% and unemployment at 7.1%. Poverty levels have gradually declined in the past 3-4 years. From the late '80s to early '90s, poverty reached an all-time high of 55%. The poverty level has dropped to 25% in 2007. It is difficult to track actual revenue of the payment receiving households because many of the migrants to Russia do not report it through formal corridors. The Central Bank of Armenia has made a recent effort to track allowance more carefully. Transferring funds to Armenia is an intricate part of the economy. Over 37% of households were estimated to receive a fund transfer. In various households, this accounts for 50% of income. Money transfer to Armenia helps meet up to 77% of basic living requirements. Moving in to the 21st century, the need for more affordable ways to transfer funds to Armenia has risen. The online renewable debit card offers convenience, safety and low costs. To begin the online fund transfer process, those interested can sign up via company website or 1800-number. After the sender signs up and deposits funds on a debit card, it is then sent to the recipient via rapid mail transport service. After the card is received, it can be refilled as much as needed. The online renewable debit card has competitively driven down high costs of global fund transfer. Sending money to Armenia has never been so trouble-free or affordable. |
|
moneytransferservice |
Latest page update: made by moneytransferservice
, Apr 17 2009, 8:36 AM EDT
(about this update
About This Update
Edited by moneytransferservice
view changes - complete history) |
|
Keyword tags:
None
More Info: links to this page
|
There are no threads for this page.
Be the first to start a new thread.
