BAKU, Azerbaijan, Mar.16
By Zeyni Jafarov - Trend:
The tendency of lowering the level of dollarization in loans in Azerbaijan continued throughout 2020, Trend reports on Mar.16 referring to the Central Bank of Azerbaijan (CBA).
According to the CBA, this figure declined by 5.6 percent compared to 2019 and made up 30.2 percent.
The CBA noted that to date, 46 percent of business loans, 7.4 percent of consumer loans, and 0.8 percent of mortgage loans in Azerbaijan were issued in foreign currency.
The stability of the national currency rate also contributed to the decrease in dollarization of the population’s deposits. So, excluding closed banks, the dollarization of deposits over the past year shrank by 1.4 percentage points and amounted to 51.3 percent, added the CBA.
In 2020, the total volume of deposit base in foreign currency in Azerbaijan amounted to slightly over 13.3 billion manat ($7.8 billion), down by 11.6 percent year on year.
(1 USD = 1.7 AZN on Mar.16)
---
Follow the author on Twitter: @jafarov_zeyni