The volume of remittances to Moldova from abroad in favor of individuals through banks amounted to $971.76 million in 7 months of 2023, up by $6.21 million (+1%), compared to the same period of 2022.
The National Bank of Moldova (NBM) informed that, at the same time, in July 2023 the volume of mentioned money transfers amounted to $137.81 million, down by 8% compared to the previous month ($149.31 million), and down by 20% compared to June 2022 ($171.70 million). The highest monthly amount of transfers this year was in March - $156.37 million. According to the NBM, in the structure of transfers by currencies from abroad in favor of individuals, transfers in euros in July 2023 accounted for 81.6% (+12.1 p.p. versus July 2022), transfers in US dollars - 18.4% (-12.0 p.p.), transfers in Russian rubles were not carried out - 0% (-0.1 p.p.). In particular, in July 2022, the share of US dollar in the structure of foreign currency transfers amounted to 30.4%, euro - 69.5%, Russian ruble - 0.1%. According to the NBM, the amounts of remittances from abroad in favor of Moldovan individuals shall be converted from the original currency of transfer into US dollars at the official exchange rate of the NBM on the date of transfer. Both the origin and destination of these amounts may be of different nature. They include, besides remittances of Moldovan migrants, also other remittances: salary transfers to resident individuals from representative offices of non-residents (international financial institutions, international organizations, foreign economic agents) in Moldova, transfers in favor of foreign citizens temporarily staying on the territory of Moldova, social pensions, allowances, alimony. The NBM data do not include payments through banks from the districts on the left bank of Nistru River. As InfoMarket reported earlier, the volume of remittances to Moldova through banks in favor of individuals in 2022 amounted to $1 billion 745.74 million, up by $133.91 million (+8.3%) compared to 2021. At the same time, this indicator became a new record for the volume of remittances from abroad in favor of individuals through banks. // 23.08.2023 - InfoMarket
