The volume of remittances to Moldova from abroad in favor of individuals through banks amounted to $951.79 million in January-July 2024, down by $20.03 million (-2.06%), compared to the same period of 2023
The National Bank of Moldova (NBM) informed that, at the same time, in July 2024 the volume of mentioned remittances amounted to $154,34 million, up by 16,13, compared to the previous month ($132.9 million), as well as up by 11.94%, compared to July 2023 ($137.87 million). July was the month with the highest monthly amount since the beginning of 2024. At the same time, in the structure of transfers by currency from abroad in favor of individuals, transfers in euros in July 2024 amounted to 72.5% (-0.2 p.p. vs. July 2023), transfers in US dollars - 10.3% (-3.3 p.p.), no transfers in Russian rubles - 0% (at the same level). In particular, in July 2023, the share of US dollar in the structure of foreign currency transfers amounted to 13.5%, euro - 71.27%, ruble - 0%. As noted by 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 remittance. 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. NBM data do not include payments through banks from the districts on the left bank of Nistru/Dniester River. As previously reported by InfoMarket agency, the volume of remittances to Moldova from abroad in favor of individuals through banks in 2023 amounted to $1 billion 627.75 million, down by $117.99 million (-6.7%), compared to 2022. The absolute record for the volume of remittances from abroad in favor of individuals through banks was registered in 2022, when this indicator amounted to $1 billion 745.74 million, up by $133.91 million (+8.3%) compared to 2021. // 22.08.2024 - InfoMarket.
