Tashkent, Uzbekistan (UzDaily.com) -- The volume of remittances between Uzbekistan and Russia in the first quarter of 2019 made up US$505 million, according to the data from the Central Bank of Russia.

According to the Central Bank of the Russian Federation, in January-March 2019, funds for US$482.8 million were transferred from Russia to Uzbekistan. The average transfer volume from the Russian Federation to Uzbekistan was US$418.

At the same time, the volume of remittances from Uzbekistan to Russia exceeded US$22.2 million in the first quarter of 2019. The average transfer volume was US$784.

According to the Central Bank of the Russian Federation, the total amount of cross-border transfers of individuals from the Russian Federation to Uzbekistan in the first quarter of 2019 was US$818 million, and from Uzbekistan to the Russian Federation - US$75 million.