Foreign currency transfers into Georgia on the rise

The National Bank of Georgia reports that there was a record number of foreign currency transfers into Georgia in 2011. The total amount was $1.26 billion USD, an increase of 25% over 2010. The largest transfers come from Russia, with a total of $655 million USD sent, followed by Greece with $144 million, Italy with $109 million, the United States with $75 million, Ukraine with $52 million, and Spain with $30 million.

In January 2012 alone, Georgians received $84 million USD. Foreign money transfers have been increasing steadily since 1999, when the total was less than $30 million USD.