In February 2022, the currency in circulation (M0)1 amounted to MDL 31,461.4 million, decreasing by MDL 237.2 million (0.7%) compared to December 2021 (Chart no. 1) as a result of exceeding of the volume of cumulative receipts over the volume of cumulative releases per banking system2 by MDL 237.2 million in period January – February 2022.
Chart no. 1. Correlation of the M0 indicator with the volume of cash operations on the banking system, million MDL
During January – February 2022, the volume of cash receipts increased by 23.2% compared to the similar period of the previous year and amounted to MDL 24,288.8 million. The increase in the volume of cash receipts was mainly determined by the increase by 14.7% of the receipts from the sale of consumer goods (regardless of the sales channel), which have the largest share (of 50.8%) in the volume of total receipts (Chart no. 2). It should be noted that this evolution was supported by the increase of majority sources of cash receipts.
Chart no. 2. Main sources of cash receipts in licensed banks vaults and their monthly dynamics
At the same time, in February 2022, the volume of cash receipts amounted MDL 12,189.2 million (+0.7% compared to January 2022 and +21.9% compared to February 2021).
The volume of cash releases from licensed banks vaults in January-February 2022 increased by 18.2% compared to the similar period of the previous year and amounted MDL 24,051.6 million (Chart no. 3).
Chart no. 3. Main purposes of cash releases from licensed banks vaults and their monthly dynamics3
This change was mainly determined by the increase of the releases from individuals4 accounts by MDL 1,542.6 million (33.0%), amounting to MDL 6,215.0 million. Their share increased by 2.9 percentage points and accounted for 25.8% of the total volume of cash release.
At the same time, the releases to purchase foreign currencies from individuals decreased by 2.5%, amounting to MDL 5,622.3 million (the equivalent of USD 313.3 million5), which represents 23.4% of the total releases volume.
It should be noted, that releases from ATMs had a significant share of 20.8% of total releases and increased in January - February 2022 by 27.5% compared to the same period of the previous year.
In February 2022, the volume of cash releases amounted MDL 12,915.3 million and exceed the volume of cash receipts by MDL 726.1 million. Compared to January 2022, cash releases increased by MDL 1,779.0 million or by 16.0%.
1Currency in circulation (M0) represent circulating cash issued by the National Bank of Moldova, except for cash in banks and NBM vault.
2The volume of cash operations includes transactions with commemorative coins.
3The aggregate data may not correspond exactly to the sum of the components due to mathematical rounding.
4Current, deposit and card accounts are included.
5Recalculated using the official average exchange rate.
