Money transfers from abroad to Moldovan private persons up by 9.3 per cent in first eight months of 2017

Chisinau, 28 September /MOLDPRES/ - The money transfers from abroad through licenced banks to private people increased by 9.3 per cent in the first eight months of 2017 against the same period of the last year. In January-August this year, private persons received financial means in an equivalent value of more than 760 million dollars, up by 65 million against 2016, according to data by the National Bank of Moldova (BNM).  

The latest data by the central bank shows that the money transfers to private persons through the Moldovan banking system amounted to 106 million dollars in August 2017. Moldovans sent home by 9.5 per cent more money than in August, last year.

Most money was remitted to Moldova from Russia (38 million dollars); this country is followed by Israel (16.58 million), Italy – 12.3 million dollars, USA – 8.1 million, the United Kingdom – 5.2 million, Germany – five million dollars.   

The share of the transfers from member countries of the Commonwealth of Independent States (CIS) accounts for 37.4 per cent, from the EU member states – 33.6 per cent and other states – 29 per cent.

According to BNM data, the structure of transfers from abroad to private people according to currencies has changed. In August 2017, the remittances in euros increased by 5.2 percent against the same period of the last year, up to 33.6 per cent. The U.S. dollar, however, continues to have the largest share, respectively, 50.9 per cent, even if it recorded a slight decrease against August 2016. As much as 10.3 per cent of all transfers were made in Russian roubles, against 13.5 per cent in 2016.   

The transfers of money from abroad to private persons (resident and non-resident) represent the sums of money remitted to Moldova through the national banking system, including via systems of international money transfer. About 97 per cent of the transfers account for remittances by Moldovan citizens who work abroad, and another about three per cent represent another payments. The sums are recalculated from the original currency of the transfer into US dollars at the official exchange rate of BNM on the date of carrying out the transfer. The data does not include discounts of banks from the left bank of Dniester.  

Data by the National Statistics Bureau shows that, for the second half of 2017, “the money transfers from abroad remain an important source for households’ budget. They account, on average, for 17.7 per cent of all revenues.”  

(Reporter V. Bercu, editor A. Raileanu)