The average monthly volume of money transfers by individuals to the CIS countries in January-May amounted to $ 496 million, in June – $ 720 million, Kommersant reported, citing data from the Central Bank. Transfers to CIS countries account for about 90% of remittances from Russia. June was a record high since 2018.
The publication noted that the volume of transfers abroad is growing, despite the reduction in the inflow of foreigners to Russia. In 2019, there were 11.2 million of them, in 2020 – 7.1 million, at the beginning of 2021 – 5.66 million.
Ivan Sitnov, director of the Zolotaya Korona – Money Transfers service, explained that the volume of transfers increased due to a sharp increase in migrants’ incomes. Because of the closed borders, competition for the labor force has increased, in some professions the salaries of migrants are equal to the salaries of Russians. The average monthly turnover of sending money per client has grown from 33,000 rubles. in the first quarter of last year up to 48,000 rubles. in the first quarter of 2021
Qiwi reported that from July 10, 2021, the rules for entering Russia for citizens of the CIS countries have changed. “Labor migrants can already return by presenting a document confirming the right to permanent residence in their homeland and a negative result for COVID-19. Over the past month, the inflow of migrants has already increased, and over the period from July to August, one can expect an increase in the volume of remittances to the CIS countries, ”the company said. Qiwi suggested that the pandemic has increased the desire of migrants to financially help their families.
Unistream reported that the volume of transfers in June and July increased by 15% and 16%, respectively, compared to May 2021.
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