BAKU, Azerbaijan, May 2
By Tamilla Mammadova - Trend:
The dollarization rate of deposits in Georgia increased by 4.97 percentage points in March 2020 compared to February 2020 and reached 66.7 percent due to an increase in the exchange rate of foreign currency and cash deposits, Trend reports citing the National Bank of Georgia.
In March 2020, the dollarization of deposits of legal entities and individuals amounted to 58.3 and 76.8 percent, respectively. The weighted average interest rates on deposits decreased by 0.3 percentage points to 7.7 percent.
The weighted average annual interest rate on interest payments on deposits in the national currency decreased by 0.2 percentage points to 10.6 percent compared to February 2020.
The interest rate on deposits in the national currency of legal entities decreased by 0.3 percentage points and amounted to 10.5 percent.
Annual rates on deposits of individuals increased by 0.1 percentage points in March compared to the previous month and amounted to 10.6 percent.
The annual rate on deposits in foreign currency decreased by 0.1 percentage points to 2.5 percent.
Interest rates on deposits of legal entities in foreign currency increased by 0.1 percentage point to 2.9 percent, and on deposits of individuals decreased by 0.1 percentage point to 2.5 percent.
Compared with the rates in March 2019, interest rates on deposits in the national currency increased by 3.1 percentage points to 0.03 percent.
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