Remittances to Ukraine through 35 money transfer companies jumped by almost one-quarter last year, to $2.3 billion

Remittances to Ukraine through 35 money transfer companies jumped by almost one-quarter last year, to $2.3 billion, reports the National Bank of Ukraine. While this is a 24% increase over 2017, it accounts for only one-quarter of money sent home last year by Ukrainians abroad, according to the central bank. This year, using friends, relatives, bus drivers, banks and money transfer systems, Ukrainians are expected to send home $1 billion a month. Last year through money transfer systems, the top sources of remittances were: US – 17%; Israel – 13%; Russia – 9%; Italy – 8%; and Poland – 7%.