DUSHANBE, June 10, 2013, Asia-Plus  -- Over the first quarter (January-March) of this year, 679.70 million U.S. dollars have been sent through money transfer system from Russia to Tajikistan, which was US$ 128.9 million more than in the same period last, the Central Bank of Russia has announced.

According to Russian central bank, an average amount of one money transfer sent from Russia to Tajikistan over the report period was 310.00 USD, or 6.00 USD fewer than in January-March 2011.

Over the report period, Tajikistan reportedly took the second place among the CIS nations in terms of money transfer, and Uzbekistan was in the lead in this area in January-March this year as 1.031 billion USD were sent there from Russia over the same three-month period. 

According to the Central Bank of Russia, Ukraine took third place in terms of money transfer from Russia in January-March this year.  673 million USD have been sent to Ukraine from Russia over the first three months of this year.

We will recall that the Central Bank of Russia reported in March that 3.651 billion U.S. dollars were sent through money transfer from Russia to Tajikistan in 2012.  Meanwhile, according to the data of the Ministry of Finance (MoF) of Tajikistan, physical entities last year remitted some 3.8 billion U.S. dollars to banks in Tajikistan.

Labor migrants remain a critical component in the economy of Tajikistan and remittances keep many families in the country above the poverty line.