Currencies of Armenia and Georgia became world leaders in growth
According to the agency, the Armenian dram has gained 22 percent against the dollar since the beginning of the year, becoming the leader among world currencies. The Georgian lari gained 16 percent and the Tajik Somoni gained 10 percent.
Bloomberg notes that remittances coming from Russia to Georgia have increased fivefold this year. They make up more than 60 percent of all remittances and exceed $1.75 billion. Remittances to Armenia in the first ten months totaled $2.8 billion, almost four times higher than last year. In Tajikistan, remittances grew by at least 50 percent in the first half of the year.
The growth of remittances contributed to the growth of consumer demand and housing construction in these countries.