Wire transfers made by households from Russia and to individuals in Russia decreased in dollar equivalent in May compared to the previous month, the Bank of Russia's consolidated data on cross-border wires made through payment systems in 2016, which were updated on Friday, show.
Wire transfers of Russian individuals abroad totaled $624 mln in May vs. $674 mln a prior month. The indicator contracted following a decline in money transfers to the CIS from $544 mln to $492 mln, while money orders to the non-CIS rose marginally (from $129 mln to $132 mln).
Foreign wire transfers to Russians fell from $195 mln in April to $184 mln in May, including a drop in funds transferred from the CIS (from $122 mln to $113 mln), and wire transfers from the non-CIS decreased from $73 mln to $70 mln.
The negative balance of cross-border wire transfers via payment systems (wire transfers from Russia exceeded those to Russia) fell from April's $478 mln to $440 mln in May 2016.
The average amount of a wire transfer from Russia dropped from $455 to $416, while a money transfer to the non-CIS rose in May from $941 to $1,000, and the one to the CIS dropped from $405 to $359. The average money order to Russia remained unchanged at $487 (money orders coming from the non-CIS and the CIS were nearly equal, $486 and $487, respectively).
