Foreign remittances to Azerbaijan exceed AZN 1 billion
In January-July 2024, AZN 1 billion 58.2 million entered Azerbaijan through rapid money transfer systems to banks. The volume of funds sent abroad from Azerbaijani banks amounted to AZN 303 million, Paralel.Az -Economics reports citing the Central Bank of Azerbaijan.
Compared to the January-July period of the last year, the volume of funds entering banks through rapid money transfer systems decreased by 29.9 % or AZN 450.9 million, and the transfers from banks abroad decreased by 17.6 % or AZN 64.6 million.
Note that in January-July 2023, AZN 1 billion 509.1 million were received by banks in Azerbaijan through fast money transfer systems. The volume of funds sent abroad from banks amounted to AZN 367.6 million.