• Calling days and hours of the governing body of the National Bank of Moldova for citizens.


  • Octavian Armașu, Governor of the National Bank of Moldova

    1st Monday of the month: 14.00-17.00;
    Appointment: +373 22 822 606;


  • Vladimir Munteanu, First Deputy Governor of the National Bank of Moldova

    2nd Monday of the month: 14.00-17.00;
    Appointment: +373 22 822 606;


  • Cristina Harea, Deputy Governor of the National Bank of Moldova

    3rd Monday of the month: 14.00-17.00;
    Appointment: +373 22 822 607;

  • Ion Sturzu, Deputy Governor of the National Bank of Moldova

    4th Monday of the month: 14.00-17.00;
    Appointment: +373 22 822 607.

Please, note the requirements for receiving and examining petitions to the National Bank of Moldova !

Details

 

Main navigation BNM

Expand Hide

Graphical analysis of money transfers from abroad in favour of individuals, June 2020



In June 2020, the total amount of net money transfers from abroad made in favour of individuals via licensed banks of the Republic of Moldova amounted to US$ 143.21 million (increasing by 42.2% as against June 2019).


Chart no. 1
Structure of net transfers of funds from abroad in favour of individuals by geographic areas June 2020 (%)

According to geographical provenance, the transfers in favour of individual are coming from the following three areas: the EU-27 (45.6 percent), CIS (16.4 percent) and the rest of the world (38.0 percent).

The transfers from the EU-27 in favour of individuals amounted to USD 65.23 million, increasing by 39.0 percent compared with June 2019. Due to Brexit, the volume of transfers from the EU-27 in June 2020 was lower by USD 11.39 million, while that of transfers from the rest of the world increased with the same amount.

As regards the distribution by countries of money transfers from abroad in favour of individuals, it should be mentioned the transfers from Israel with a share of 19.0 percent (USD 27.16 million) of total transfers (increasing by 56.1 percentage points as compared to June 2019), from Russian Federation with a share of 15.4 percent (USD 22.00 million) of the total transfers (decreasing by 3.1 percent and by 7.2 percentage points as compared to June 2019),  from Italy with a share of 14.2 percent (USD 20.32 million), from Germany with a share of 9.8 percent (USD 13.99 million), from the United Kingdom and Nord Ireland with a share of 8.0 percent (USD 11.39 million),  USA - 6.5 percent (USD 9.30 million),  France - 6.4 percent (USD 9.16 million), Republic of Ireland - 2.9 percent (USD 4.21 million), Romania - 1.7 percent (USD 2.43 million), Spain - 1.7 percent (USD 2.36 million), Czech Republic - 1.4 percent (USD 2.05 million), Portugal - 1.2 percent (USD 1.75 million), Turkey - 1.1 percent (USD 1.62 million), Poland - 0.8 percent (USD 1.22 million), Other countries - 9.9 percent (USD 14.25 million).


Chart no. 2
Currency structure of money transfers from abroad via money transfers systems in favour of individuals (%) June 2020

In the currency structure of transfers from abroad via money transfers systems in favour of individuals, transfers made in EUR - 62.0% (up by 8.1 p.p compared to June 2019), followed by transfers in USD dollars - 36.7% (down by 4.7 p.p) and those in RUB - 1.3% (down by 3.4 p.p).


During January – June 2020, the volume of total banking transfers from abroad in favour of individuals of the Republic of Moldova was USD 646.15 million, by 9.8 percent more than the same period last year ( USD 588.46 million).

Chart no. 3
Money transfers from abroad made in favour of individuals, in monthly dynamics, 2018 – June 2020 (US$ million.)


In June 2020, compared with the same period of the previous year, the currencies exchange rate fluctuations against the U.S. dollar contributed with 1.5 percentage points to the increase in transfers from abroad in favour of individuals,while the actual increase in transfers was 40.7 percent (eliminating the exchange rate effect by recalculating the amounts at the exchange rate for the respective period of the previous year).

Chart no. 4
The evolution of USD/EUR and USD/RUB exchange rate impact on transfers in June 2020 years (US$ mil.)

 

Chart no. 5
The evolution of USD/EUR and USD/RUB exchange rate impact on transfers in 2019 years (US$ mil.)

 

Chart no. 6
The evolution of USD/EUR and USD/RUB exchange rate impact on transfers in 2018 years (US$ mil.)

 

NOTE:

The National Bank of Moldova notes that money transfers from abroad in favour of individuals via banks do not consist solely of remittances of Moldovan citizens working abroad, but also include unilateral transfers such as:

  1. local transfers, including salary transfers in favour of resident individuals from non-residents representatives (representative offices of international financial institutions, international organisations, and representations of foreign economic agents) in the Republic of Moldova (0.9 percent of total transfers);
  2. transfers in favour of non-residents who are temporarily in the Republic of Moldova (0.3 percent of total transfers via MTS);
  3. pensions (social and maintenance) and benefits (0.4 percent of total transfers).

Money transfers from abroad in favour of individuals through Moldovan banks also include transfers of individuals made via postal offices of the State Enterprise "Poşta Moldovei" (settled through banks), both via MTS and money orders.

Note that this indicator does not include:
  a) international transfers to individuals made via SWIFT payment system with an investment purpose (with significant values), which amounted in the June 2020 to USD 2.18 million;
  b) international transfers via SWIFT payment system to non-resident individuals, clients of licensed Moldovan banks;
  c) transfers made via so-called banks in the Transnistrian region of the Republic of Moldova.


Statistical series on money transfers from abroad made in favour of individuals via banks and SE "Poşta Moldovei", as well as their currency structure, can be found on the official website of the National Bank of Moldova at:

 

Publication of data is only allowed if a reference to this page is provided.

Subscribe to Newsletter
CAPTCHA
This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.