In eight months of this year, Moldovans working abroad have sent back home roughly $1.1b, by over 50 percent more than in the similar period last year when the figure stood at $536.08m. According to the National Bank of Moldova (NBM), these figures reflect only bank transfers. NBM further reported that in August 2008 the amount transferred through commercial banks by migrant workers was over $167m, down 10 percent on the previous month. Of the total amount, over 77 percent was sent via instant cash transfer systems. In 2007, Moldovans working abroad remitted $1.2b.