Restrictions on size of money transfers from Russia to Kyrgyzstan will not affect remittances much: Central bank

AKIPRESS.COM - On April 12, Golden Crown - Money Transfer system notified commercial banks of Kyrgyzstan about the decision of the Bank of Russia on restrictions on the size of money transfers from Russia to Kyrgyzstan from April 16, the National Bank of Kyrgyzstan said.
Now no more than 100,000 rubles a month can be transferred from Russia to Kyrgyzstan, according to the decision of Bank of Russia.
However, the central bank of Kyrgyzstan said in a statement that the restriction will not seriously affect the money transfers from Kyrgyz labor migrants in Russia to Kyrgyzstan. The sum transferred by private individuals to Kyrgyzstan averages between $400-500, and the average salary of Kyrgyz citizens in Russia is about $500-600, the regulator said.
"Share of commercial operations in the inflow of money transfers is not significant," the statement said.