In December 2020, the total amount of net money transfers from abroad made in favor of individuals via licensed banks of the Republic of Moldova amounted to US$ 147.84 million, an increase of 36.9% on December 2019. Transfers from the EU came to almost 46.8%, from the CIS to 13.6%, while those from the rest of the world to 39.6%, IPN reports, with reference to the National Bank of Moldova.
Transfers from the EU to individuals amounted to US$ 69.23 million in December 2020, increasing by 38.5% compared with December 2019. As a result of the United Kingdom’s exit from the EU, the volume of EU transfers was by USD 14.17 million lower.
As regards the distribution by countries of money transfers from abroad in favor of individuals, transfers from Israel represented 17.4% of total transfers, from Italy - 13.9%, from the Russian Federation - 12.5%, from the UK - 9.6%, from Germany – 9%.
In the currency structure of transfers, transfers made in euros constituted 64.5%, followed by transfers in US dollars with 33.2% and those in Russian rubles with 2.3%.
During January – December 2020, the volume of total bank transfers from abroad in favor of individuals of the Republic of Moldova was US$1.486,74 billion, up 21.6% compared with the same period last year.
In December 2020, compared with the same period of the previous year, the currencies exchange rate fluctuations against the U.S. dollar contributed with 10.5 percentage points to the increase in transfers from abroad in favor of individuals, while the actual increase in transfers was 26.4%, eliminating the exchange rate effect by recalculating the amounts at the exchange rate for the respective period of the previous year.