Uzbek soum is most authoritative local currency in Central Asia
Baku, Azerbaijan, July 11
By Fakhri Vakilov- Trend:
Uzbekistan has overtaken other countries in Central Asia in terms of the volume of deposits of individuals opened in national currency, Trend reports with reference to Moody’s data.
The agency states that in Uzbekistan, this indicator in the total volume of deposits reaches 60 percent, while in Kazakhstan, Kyrgyzstan and Tajikistan it is about 50 percent.
Figures for Turkmenistan are not given.
According to Moody's, among the countries of the region, Uzbeks prefer to pay by card the most. The turnover of non-cash payments in the country amounted to 29 percent. Uzbekistan is followed by Kazakhstan (27 percent), Kyrgyzstan (13 percent) and in Tajikistan (just about one percent).
The leading position of Uzbekistan in terms of non-cash payments is largely due to the fact that after 2004, the authorities began to urge the population to use bank cards, starting to transfer salaries and pensions of the majority of the citizens to the cards.
($1 - 8573.02 soums on July 11)
Follow author on Twitter:@vakilovfaxri