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Remittances to Moldova by migrant workers rose by 26.2%

27.02.18

Remittances to Moldova by migrant workers rose 26.2% on the year to $94.34 million (76.5 million euro) in January, the Central Bank of Moldova reported on 27 February 2018.  

In January, money transfers from Moldovan workers in the EU countries made up 36.7% of the total volume of remittances. The share of remittances from the Commonwealth of Independent States (CIS) reached 28.3%, while 35% came from other states.

Most of the money transfers, 49.8%, were made in US dollars, followed by transfers in euro, 44.7% and in Russian rubles, 5.5%.

An estimated one-third of Moldova's economically active population is currently working abroad, making remittances the single most important net source of foreign exchange in Moldova.

The foreign exchange reserves held by Moldova's central bank increased by $100.2 million net in January, reaching $2.903 billion.

The full text of the report is available at the following link.

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