Remittances in Russian rubles sent to Moldova on the rise

The volume of money in Russian rubles transferred home by Moldovans working abroad has increased, but the remittances in dollars continue to account for the largest share, being followed by the remittances in euros, Info-Prim Neo reports, quoting statistics of the National Bank of Moldova. The remittances in dollars fell from 42% of the total in 2011 to about 39% in 2012. The money transfers in euros decreased by 4.5%, to 37% of the total in 2012. The remittances in rubles account for 24% of the total, up 7.8% compared with 2011. Some 65% of the total remittances came from Russia, up 4% compared with 2011, 9% from Italy, down over 1%, while over 5% from Israel. Almost 90% of the remittances in 2012 were sent by international money transfer systems, without opening bank accounts. Last year the remittances totaled US$1.5 billion, an increase of 3.5% compared with 2011. The data do not cover the transfers made through the banks of the Transnistrian region.