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Tajikistan registers decline in remittances from Russia

Xinhua, February 25, 2015 Adjust font size:

Remittance flows from Russia to Tajikistan last year declined by 8.3 percent compared with 2013, Tajikistan's National Bank said on Wednesday.

Of the total remittances sent to Tajikistan from Russia, 89.1 percent were in the Russian ruble, 10.8 percent in the U.S. dollar and 0.1 percent in euro.

Major reasons for the decline in remittance flows are the drop of global oil prices and political and economic sanctions imposed by Western powers on Russia -- the main destination for Tajik migrant workers.

Russia is one of the major trading partners of Tajikistan. The vast majority of Tajik labor migrants, who travel to Russia in search of work, send money through the financial transfer system from Russia to Tajikistan. Endi