ASHGABAT, Turkmenistan, May 21. The total volume of deposits attracted by banks in Turkmenistan in the national currency from January through February this year amounted to 31.5 billion Turkmen manat ($9 billion), Trend reports.
According to the central bank of Turkmenistan, these figures for the specified period are 1.6 percent more than the total volume of attracted deposits for the same period last year, which amounted to slightly more than 31 billion Turkmen manat, or $8.85 billion.
The total amount of deposits by legal entities from January through February 2024 reached 25.9 billion Turkmen manat ($7.4 billion), which almost remained the same in annual terms.
Furthermore, during the specified period, deposits of individuals in banks reached a total of 5.5 billion Turkmen manat ($1.5 billion), which is almost 8 percent more than in the corresponding period of 2023, when this figure was 5.1 billion Turkmen manat, which is equivalent to $1.4 billion.
Meanwhile, in 2023, banks in Turkmenistan placed deposits in the national currency worth 245 billion Turkmen manat ($69.9 billion), with an average interest rate of 0.59 percent.
As of May 21, 2024, the Turkmen manat's official exchange rate against the US dollar stands at 3.5 manat per USD, according to data from the Central Bank of Turkmenistan.