EU currency transfers to individuals reach 46.6 per cent share in June in Moldova

Chisinau, 26 July /MOLDPRES/ – The transfers through EU money remittance systems in favour of individuals also followed the upward trend in June within recent 05 years, reaching a share of 46.6 per cent. The increase was on the background of a significant reduction in remittances from the CIS states, from 66.3 per cent in 2013 up to 23.6 per cent in June 2019, according to data from the National Bank of Moldova (BNM).  

According to the BNM's information and media communication service, in the state distribution of transfers to individuals the most money came from Russia with a weight of 22.5 per cent of the total in June, decreasing by 7.3 percentage points compared to the same period of 2018. Significant amounts, namely $17.41 mln and $11.9 mln, have been transferred from Israel and Italy, followed by Germany, the United Kingdom of Great Britain & Northern Ireland and France with less than $10 mln.

The National Bank notes, however, that in June, through the licenced banks, there were transferred foreign funds to individuals in the amount of $100.92 mln, decreasing by 14.1 per cent compared to June 2018.

In the structure of foreign currency transfers to individuals through money remittance systems, transfers of euros accounted for 53.9 per cent, up 8.3 percentage points versus June 2018, followed by transfers in U.S. dollars – 41.4 per cent and in Russian roubles – 4.7 per cent.

In January – June 2019, the total volume of bank transfers of funds from abroad to individuals in Moldova amounted up to $589.49 mln, 7.9 per cent less than in similar period of 2018.