Russia’s cross-border retail transfers fall 9% to $2.5 bln in 2014

MOSCOW, Mar 10 (PRIME) -- Russia’s cross-border cash retail transfers fell 9% on the year to U.S. $25 billion in 2014, the first decrease since 2009, due to the ruble weakening against the dollar and the euro, analytical agency TMT Consulting and payment system Contact said in a statement on Tuesday.

If calculated in rubles, the transfers rose 10% in the period.

The number of transactions remained almost flat at 53 million, but an average volume of a cash transfer fell to $427 in 2014 from $521 in 2013.

The transfers from Russia fell 2 percentage points and accounted for $20.9 billion in 2014, including $18.3 billion transfers to CIS countries. The share of transactions to Russia from CIS ountries rose 8% on the year in the period.

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