Uzbek Central Bank discloses average rate on soum deposits

Finance Materials 24 September 2021 13:19 (UTC +04:00)

BAKU, Azerbaijan, Sept. 24

By Fakhri Vakilov – Trend:

The average rate on soum deposits in ten largest commercial banks of Uzbekistan was 21.1 percent as of September 1, Trend reports citing the Central Bank.

The Central Bank has published data on monitoring high interest rates on soum deposits in the 10 largest banks in Uzbekistan.

The highest rates in these financial institutions stood within the 20-22 percent range.

The Central Bank only monitored deposits that are open to all customers without restrictions and preconditions. The study excluded deposits for pensioners, children, students and other categories of the population.

As noted in one of the previous messages of the Central Bank, the average interest rate on deposits for the population has been about 20 percent per year for two months in a row. Interests that were exceeding the inflation rate prompted the population to invest more in deposits.

Moreover, for eight months of 2021, total time deposits in Uzbek national currency increased by 26.5 percent.


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