Baku, Azerbaijan, July 27
By Elena Kosolapova - Trend:
Deposits in national currency tenge have become more popular in Kazakhstan, the country’s central bank reported on July 27.
The volume of deposits in national currency increased by 6.6 percent in June and by 43.8 percent since the beginning of 2016 to 7.12 trillion tenge (350.2 tenge = $1). Meanwhile the volume of deposits in foreign currency decreased by 1.3 percent in June and by 12 percent since the beginning of the year to 9.69 trillion tenge.
The volume of residents' deposits in national and foreign currencies in total rose by 1.9 percent in June to 16.817 billion. Increase since the beginning of 2016 hit 5.3 percent.
Deposits of legal entities increased by 2 percent to 9.781.7 trillion percent (6.6 percent growth since the beginning of 2015), deposits of individuals rose by 1.8 percent to 7.035 trillion tenge (3.6 percent growth in Jan- June.).
The share of deposits in tenge increased from 31 percent at the beginning of the year and 40.5 percent in May to 42.4 percent in June.
As much as 49.5 percent of deposits of legal entities are in national currency - almost 4.84 trillion tenge at the end of June (4.4 percent growth compared to May and 37.4 percent growth since the beginning of 2016). Legal entities’ deposits in foreign currency decrease by 0.3 percent in June and 12.6 percent since the beginning of 2016 and amounted to 4.94 trillion tenge.
The share of tenge deposits among individual’s deposit hit 32.5 percent. Individual’s deposits in tenge increased by 11.5 percent in June 2016 and 59.7 percent in Jan.- June to 2.28 trillion tenge. Individual’s deposits in foreign currency decreased by 2.3 percent in June and 11.4 percent in Jan.- June to 4.75 trillion tenge.
In June 2016 an average interest rate on legal entities’ deposits in the national currency stood at 12.8 percent compared to 20.1 percent in December 2015. Average interest rate on individuals’ deposits in the national currency stood at 11.6 percent compared to 8.5 percent in Dec. 2015.
Edited by SI
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