Level of dollarization of deposits decreased in Georgia
BAKU, Azerbaijan, Sept.14
By Tamilla Mammadova – Trend:
In July 2020, the level of dollarization of deposits decreased in Georgia amounting to 61.37 percent of the total portfolio, Trend reports via the Banking Association of Georgia.
Compared to the same period of 2019, this figure is reduced by 3.37 percentage points.
Statistics show that the decline in dollarization is due to a significant decrease in the share of foreign currency in term-deposits, while the share of foreign currency in current and demand deposits has increased.
According to the types of deposits, the dollarization ratio is as follows:
Current deposits - 56.38 percent dollarization increase of 0.49 percent compared to the previous year;
Demand deposits - 66.30 percent increase in dollarization compared to the previous year 2.89 percent;
Term deposits - 62.06 percent decrease in dollarization compared to the previous year 9.87 percent
The total volume of deposits amounted to 30.5 billion lari in the Georgian banking system.
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