Money transfers from abroad drop in 2015

Chisinau, 30 January /MOLDPRES/- Private people (residents and nonresidents) received money worth 1,129.36 million dollars through Moldovan banks in 2015, down by 30 per cent against 2014, according to data by the National Bank of Moldova (BNM).

This is the lowest level of the last six years. It is for the first time ever after the global financial crisis, when the transfers fell below 100 million dollars.

The bank explains the reduction by one third of transfers against 2014, when remittances increased by 1.6 billion dollars by depreciation of euro and Russian ruble against US currency. According to the BNM’s daily official rates, as a result of depreciation of the two currencies, the transfers decreased by 13.8 per cent. “Thus, transfers in euro fell by 19.6 per cent, and in ruble by 61.1 per cent”, the BNM said.

The transfers from Commonwealth of Independent States have cut in half against 2014, due to the dramatic devaluation of Russian ruble, and fell to 45.2 per cent of overall remittances. The share of transfers from the EU states amounted to 27.7 per cent, and from other countries, especially, Israel, United States and Turkey, by 27.1 per cent. Most money amounting to over 42 per cent came from Italy, followed by the Great Britain, Germany, France and Romania.

The share of transfers in ruble decreased to 24.8 per cent in 2015 against 2014, whereas in US dollars increased to 42.3 per cent.

(Reporter V. Bercu, editor L. Alcază)