Foreign currency transfers to individuals reach highest level in July 2019 in Moldova

Chisinau, 23 August /MOLDPRES/ – The value of money transfers made in favour of individuals reached the highest level in July 2019. The individuals (residents and non – residents) received in July through the banks of Moldova money in a net amount equivalent to $114.64 million, 1 per cent less than in similar period of 2018, with reference to data released today by the National Bank of Moldova (BNM).

The BNM specifies that in July 2019, compared to the same period of last year, fluctuations in the exchange rate of currencies against the US dollar contributed 2.2 percentage points to the total decrease in the value of transfers abroad in favor of individuals, but in fact (eliminating the effect of the exchange rate by recalculating the amounts during the respective period of the previous year), there was an increase in the volume of transfers by 1.2 per cent.

According to the BNM's information and media communication service, in 07 months of 2019 through the licenced banks, it was sent home over $703 million, 7.0 per cent less than in similar period of 2018.

The BNM data show that in July, 46.4 per cent of transfers were made from EU states, 24.1 per cent from CIS states and 29.5 per cent from the rest of the world. Most of the money came from Russia, respectively $26.22 million, followed by Israel with $19.66 million transfers, Italy – $14.14 million, Germany – $9.01 million, USA – $8.77 million, UK – $7.69 million.

In the currency structure of transfers from abroad to individuals through money remittance systems, the transfers in euros were 53.6 per cent, followed by transfers in U.S. dollars – 41.8 per cent and those in Russian roubles – 4.6 per cent.