Cash transfers from abroad on the rise

The cash transfers from abroad in the first ten months of this year rose by 10.5% compared with the corresponding period last year. Net transfers this October totaled US$116.13 million, up 19% on last October, IPN reports.

According to the National Bank of Moldova, the cash transfers from the EU accounted for 36.3% of the total transfers for this October, from the CIS for 35.2%, while 28.6% were remittances from other states.

Among countries, the largest volume of cash transfers came from Russia – 39.9% of the total. But this volume is by 4.6% lower than last October. Transfers from Israel represented 16% of the total, from Italy – 10.7%, from the U.S. – 7.3%, from Germany – 5.4%, from the UK – 4.4%, while from France – 2.8%.

The largest amount of remittances is in US dollars – 50.3%, down 2.7% on last October. The transfers in euros rose by over 5% to 41.9% of the total, while in Russian rubles decreased by 3.2% to 7.8%.

The cash transfers from abroad to private individuals in Moldova in January – October 2017 came to US$ 988.24 million, an increase of 10.5% compared with the corresponding period last year.