The volume of money transfers to Moldova through banks in favor of individuals in January-February 2021 amounted to $219.35 million, up 21% compared to the same period in 2020.
The National Bank of Moldova (BNM) informed that, in February 2021 the volume of the mentioned remittances amounted to $113.53 million, up 7.3% compared to the previous month ($105.82 million), as well as up 20%, compared to February 2020 ($94.68 million). As noted by the NBM, in the structure of transfers by currencies from abroad in favor of individuals, transfers in euros in February 2021 amounted to 66.5% (up by 6.3 percentage points compared to February 2020) , transfers in US dollars - 31.2% (4.8 p.p. below the corresponding period of 2020), and in Russian rubles - 2.3% (1.5 p.p. lower). In particular, in February 2020, the share of the dollar in the structure of foreign exchange transfers was 36%, the euro - 60.2%, and the Russian ruble - 3.8%. As noted by the NBM, the money transfers from abroad, carried out in favor of individuals in Moldova, are converted from the original currency of the transfer into US dollars at the official exchange rate of the NBM on the date of the transfer. They include, in addition to transfers of Moldovan migrants, also other money transfers: transfer of salaries 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 in the territory of Moldova, social pensions, benefits, alimony. The NBM data does not include payments through banks from the districts on the left bank of the Dniester. As InfoMarket reported earlier, the volume of money transfers to Moldova through banks in favor of individuals in 2020 amounted to $1 billion 486.74 million and increased by 21.6%, compared to 2019. According to the World Bank, transfers of Moldovan guest workers are in different years from 15% to 30% of the country's GDP. The absolute record in terms of the volume of money transfers to Moldova from abroad in favor of individuals through commercial banks was in 2008 - $1 billion 660.09 million. // 23.03.2021 - InfoMarket.
