Belarusians Siphon Off Dollars Abroad

The volume of currency transfer from Belarus to other countries is growing, and the amount of money remittances to Belarus is falling down.

According to the National Bank of Belarus, in the III quarter of this year 78.5 million dollars were received via international money transfer systems in Belarus, and 39.6 million dollars were transferred abroad.

The National Bank pointed out such international systems as the Western Union, Unistream, Zolotaya Korona, Contact, BLIZKO, Leader, Money Gram, Kolibri, Faster, Anelik and InterExpress, select.by writes.

The volume of money, which was transferred abroad using these systems in the III quarter, was much higher than in the I and II quarters, when it totaled to 34.1 million dollars and 37.8 million dollars respectively. This might reflect the increased number of entities, where foreign labor is used in Belarus.

At the same time, the amount of remittances received in the Republic of Belarus in the III quarter reduced by 1.5 million dollars, as compared to the II quarter. The reduction, apparently, occurred due to the seasonal factor – time of holidays.

At that, the average amounts of remittances increased considerably. Thus, the average amount of remittances in the Republic of Belarus from other countries, reached USD 313,47 in the III quarter of this year (against USD 302,99 and USD 307,92 in the I and II quarters, respectively). And the average amount of remittances sent from Belarus grew up to USD 342,85, against USD 278,76 in the I quarter and USD 293,36 in the II quarter.

The amount of money remittances in Belarusian rubles via domestic money transfer systems at the territory of Belarus is much lower than the amount of transfers abroad. These transfers are carried out by the banking systems Stryzh (Belarusbank), Express Transfer (Belinvestbank), Hutkiya Hroshy (Belagroprombank) and Hroshy-Skarakhody (Bank BelVEB).

BYN 2.18 million, ie slightly more than USD 1 million was transferred in the country via these systems in the III quarter of this year. The amount of transfers fell from BYN 2.6 million in the I quarter and from BYN 2.42 million in the II quarter.

The sum of one remittance grew up to BYN 169 in the III quarter from BYN 147.3 in the I quarter and BYN 153.43 in the II quarter. The average amount of a remittance within the country was about 3 times less than the one sent abroad.