Moldovans send home more money in last April against same period of year before

Chisinau, 24 May /MOLDPRES/ – The amount of funds' transfers made to physical persons increased in April 2019 by 5.9 per cent, compared to similar period of 2018. According to the National Bank of Moldova's (BNM) data released today, the individuals (residents and non – residents) received in April through the banks of Moldova funds in net amount equivalent to $104.6 million.

According to BNM's info, 45.1 per cent of the transfers were made from the EU countries, 22.8 per cent from the CIS countries and 32.1 per cent from worldwide. Most money came from Russia – $22.65 million, which represents 21.7 per cent of total, followed by Israel – $19.8 million, Italy – $12.98 million, USA – $8.5 million, Germany – $7.5 million, UK of GB&NI – $7.15 million.

The BNM states that in April 2019, compared to corresponding period of 2018, exchange rate fluctuations against the USD contributed by 5.8 percentage points to total decrease in the value of foreign transfers to individuals but actually eliminating the effect of exchange rate by recalculating amounts in the same period of previous year), there was an increase in the volume of transfers by 11.7 per cent.

NBM data reveal that in the foreign currency structure of foreign transfers in favor of individuals, remittances in euro accounted for 54.1 per cent, in USD – 41.2 per cent and in RUB – 4.7 per cent.

In the first four months of 2019, the total volume of bank transfers of funds from abroad to Moldovan individuals accounted for $381.5 million, 3.8 per cent less than in the same period of 2018.