{"id":260276,"date":"2009-05-07T05:20:41","date_gmt":"2009-05-07T05:20:41","guid":{"rendered":"http:\/\/new.moldova.org\/2009\/05\/07\/money-transfer-volume-drops-by-40-in-first-quarter-200579-eng\/"},"modified":"2009-05-07T05:20:41","modified_gmt":"2009-05-07T05:20:41","slug":"money-transfer-volume-drops-by-40-in-first-quarter-200579-eng","status":"publish","type":"post","link":"https:\/\/www.moldova.org\/en\/money-transfer-volume-drops-by-40-in-first-quarter-200579-eng\/","title":{"rendered":"Money transfer volume drops by 40% in first quarter"},"content":{"rendered":"Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>

The volume of money transfers declined by 40% in the first quarter at the Moldovan money transfer market, Director General of the UNIStream money transfer system Suren Airichean said. He remarked that the slowdown in the market growth, which reached earlier 30-60% a year, began in the fourth quarter of 2008. That time the increase in money transfers practically stopped, though it reached on the whole 44% for the year 2008 in this money transfer system. <\/p>\n

’The list of the factors for this decline is big enough, as all the economy sectors were affected by the world financial crisis, whereas those, which suffered most of all, were construction, trade, services, that is to say, all those spheres, where the concentration of labor migrants was the most considerable’, Airichean explained.
\n 
\nHe pointed out that the volume of money transfers was reduced at the cost of the Russian ruble devaluation, which exchange rate dropped by 40-45% from September. ’We have not noticed the outflow of clients. On the contrary, in the IV quarter of 2008 and in the first quarter of 2009 we observed the increase in the number of money transfers: in January-March this index in the UNIStream system increased by 10% against 2008’, Airichean said. The market share of the UNIStream system in 2008 reached 30% in the CIS countries and in Moldova 40%. About US$481 million was transferred in Moldova by means of this system for a year. <\/p>\n

According to a report by the Russia Central Bank, in the fourth quarter of 2008 the sum equivalent to US$288 million was transferred to Moldova against US$270 for the same period of 2007<\/p>\n","protected":false},"excerpt":{"rendered":"

Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>The volume of money transfers declined by 40% in the first quarter at the Moldovan money transfer market, Director General of the UNIStream money transfer system Suren Airichean said. He remarked that the slowdown in the market growth, which reached earlier 30-60% a year, began in the fourth quarter of 2008. That time the increase in money transfers practically stopped, though it reached on the whole 44% for the year 2008 in this money transfer system.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-260276","post","type-post","status-publish","format-standard","hentry","category-economy"],"content_social_share":"Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>

The volume of money transfers declined by 40% in the first quarter at the Moldovan money transfer market, Director General of the UNIStream money transfer system Suren Airichean said. He remarked that the slowdown in the market growth, which reached earlier 30-60% a year, began in the fourth quarter of 2008. That time the increase in money transfers practically stopped, though it reached on the whole 44% for the year 2008 in this money transfer system. <\/p>\n

’The list of the factors for this decline is big enough, as all the economy sectors were affected by the world financial crisis, whereas those, which suffered most of all, were construction, trade, services, that is to say, all those spheres, where the concentration of labor migrants was the most considerable’, Airichean explained.
\n 
\nHe pointed out that the volume of money transfers was reduced at the cost of the Russian ruble devaluation, which exchange rate dropped by 40-45% from September. ’We have not noticed the outflow of clients. On the contrary, in the IV quarter of 2008 and in the first quarter of 2009 we observed the increase in the number of money transfers: in January-March this index in the UNIStream system increased by 10% against 2008’, Airichean said. The market share of the UNIStream system in 2008 reached 30% in the CIS countries and in Moldova 40%. About US$481 million was transferred in Moldova by means of this system for a year. <\/p>\n

According to a report by the Russia Central Bank, in the fourth quarter of 2008 the sum equivalent to US$288 million was transferred to Moldova against US$270 for the same period of 2007<\/p>\n

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