In December 2022, the currency in circulation (M0)1 amounted to MDL 34,406.0 million, increasing by MDL 2,694.5 million (8.5%) compared to December 2021 (Chart 1) due to exceeding of the volume of cumulative receipts over the volume of cumulative releases per banking system2 by MDL 2,694.6 million in 2022.
Chart 1. Correlation of M0 indicator with volume of cash operations, million MDL
In 2022, the volume of cash receipts increased by 12.0% compared to previous year and amounted to MDL 171,865.6 million. The increase in the volume of cash receipts was mainly determined by the increase by 8.4% of the receipts from the sale of consumer goods (regardless of the sales channel), which have the largest share (54.0%) in the volume of total receipts (Chart 2). Significant receipts were from the supply of current accounts and deposit accounts of individuals (MDL 18,067.6 million), as well as from companies providing other services (MDL 13,004.6 million). At the same time, the volume of receipts from the sale of foreign currency to individuals increased by 60.0%, amounting to MDL 10,714.9 million (the equivalent of USD 566.8 million3).
Chart 2. Main sources of cash receipts in licensed banks vaults and their monthly dynamics
At the same time, in December 2022, the volume of cash receipts amounted to MDL 15,029.7 million (+6.4% compared to November 2022 and +6.2% compared to December 2021).
The volume of cash releases from licensed banks vaults in 2022 increased by 12.4% compared to the previous year and amounted to MDL 174,560.2 million (Chart 3).
Chart 3. Main purposes of cash releases from licensed banks vaults and their monthly dynamics4
This increase was mainly determined by releases from ATM with a significant share of 22.8% of the total volume of cash releases, which increased in 2022 by MDL 9,736.3 million (or +32.5%) as compared to the previous year as well as the volume of releases from individuals’ accounts5, which amounted to MDL 41,437.2 million that represents 23.7% of the total volume of cash releases registering an increase of MDL 5,945.3 million (or +16.8%).
The purchase of currency from individuals constituted MDL 47,090.6 million (equivalent to USD6 2,491.1 million), having a share of 27.0% of the total volume of cash releases.
In December 2022, the volume of cash releases amounted to MDL 16,726.5 million, which is more than the volume of cash receipts by MDL 1,696.9 million. Compared to November 2022, cash releases increased by MDL 1,927.7 million or by 13.0%.
1. Currency in circulation (M0) represents circulating cash issued by the National Bank of Moldova, except for cash in banks and NBM vault.
2. Volume of cash operations includes transactions with commemorative coins.
3. Recalculated using the official average exchange rate calculated for that period.
Aggregate data may not correspond exactly to the sum of the components due to mathematical rounding.
5, Current, deposit and card accounts are included
6. Recalculated using the official average exchange rate.