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20.05.2021

Analysis of the volume of cash operations in domestic currency for January - April 2021



In April 2021, the currency in circulation (M0)1 amounted to MDL 31,690.3 million, increasing by 1,871.4 million lei (6.3%) compared to December 2020 (chart no. 1) as a result of exceeding of the volume of cumulative releases over the volume of cumulative receipts per banking system by MDL 1,871.5 million2 in period January – April 2021.

Chart no. 1.
Correlation of the M0 indicator with the volume of cash operations on the banking system, million MDL

During January - April 2021, the volume of cash receipts increased by 20.2% compared to the similar period of the previous year and amounted to MDL 43,630.2 million. The increase in the volume of cash receipts was mainly determined by the increase by 22.1% of the receipts from the sale of consumer goods (regardless of the sales channel), which have the largest share (56.1 %) of total volume of receipts (Chart no. 2). This evolution was supported by the increase of practically all sources of cash receipts. At the same time, the volume of receipts from the sale of foreign currency to individuals decreased by 16.4% (the share being 3.1%) compared to the similar period of the previous year.

Chart no. 2.
Main sources of cash receipts in licensed banks vaults and their monthly dynamics

At the same time, in April 2021, the volume of receipts amounted MDL 12,046.3 million (+1.5% compared to March 2021 and +75.1% compared to April 2020).

The volume of cash releases from licensed banks vaults in January-April 2021 increased by 21.5% compared to the same period of the previous year and amounted MDL 45,501.7 million lei (Chart no. 3).

Chart no. 3.
Main purposes of cash releases from licensed banks vaults and their monthly dynamics

This change was mainly determined by the increase of the releases to purchase foreign currencies from individuals by MDL 3,555.2 million (38.0%), amounting to MDL 12,921.4 million (the equivalent of USD 733.8 million3). Their share increased by 3.4 percentage points and accounted for 28.4% of the total volume of cash release.

At the same time, the releases from individuals’  accounts increased by 14.1%, amounting to MDL 10,137.5 million, which represents 22.3% of the total releases volume.

It should be noted, that releases from ATMs had a significant share of 18.9% of total releases and increased in January – April 2021 by 8.3% compared to the same period of the previous year.

In April, the volume of cash releases amounted to MDL 13,310.5 million, more by MDL 1,264.3 million than the volume of receipts. Compared to March 2021, cash releases increased by MDL 1,474.3 million or by 12.5%.
 


Instruction on the compilation by banks of the Report on the volume of cash operations

 


1. Currency in circulation (M0) represent circulating cash issued by the National Bank of Moldova, except for cash in banks and NBM vault.
2. The volume of cash operations includes transactions with commemorative coins.
3. 
Recalculated using the official average exchange rate.
4. 
Current, deposit and card accounts are included.

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