Transfers from abroad in second quarter 18.2% up

The money transfers from abroad made in favor of individuals of the Republic of Moldova in the second quarter of 2020 amounted to US$369.77 million. According to the National Bank of Moldova, the amount of transfers, recalculated in US dollars, increased by 18.2% compared with the second quarter of 2019 (US$ 312.72m), IPN reports.

The fluctuations in the exchange rate of original currencies against the U.S. dollar contributed 0.1 percentage points to the increase in the value of transfers in the second quarter of 2020. However, the effective increase of transfers was 18.1%, being eliminated the exchange rate effect through the recalculation of amounts at the exchange rate for the respective period of the previous year.

Money transfers from EU-27 represented 48.8%, up 2.5 percentage points compared with the second quarter of 2019. Due to Brexit, the volume of transfers from the EU-27 in the second quarter of 2020 was lower by US$ 27.16 million (7.3%), while that of transfers from the rest of the world increased by the same amount.

Among the transfers from the EU-27, transfers from Italy constitited 31.6%, being followed by transfers from Germany (24.0%), France (12.5%), Ireland (5.4%), Romania (3.7%).

Money transfers from the CIS region represented 14.7%, up 8.1 percentage points compared with the second quarter of 2019. Money transfers from the Russian Federation constitited 93.2% of total transfers from the CIS. Transfers from other CIS countries had the following shares: Ukraine - 4.0%, Kazakhstan - 0.8%, Belarus - 0.7% etc.

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