BAKU, Azerbaijan, July 14. Deposits in the banking system in Kazakhstan amounted to 25.2 trillion tenge ($52.9 billion) as of June 1 this year, having increased by 3.1 percent in annual terms, Governor of the National Bank of Kazakhstan Galymzhan Pirmatov said at an expanded meeting of the Government, Trend reports via Kazakh National Bank.
"The increase in the recommended rates on household deposits and the announced tenge deposit protection program made it possible to stop the growth of dollarization, which, after increase in February 2022 to 38.4 percent, fell to 33.3 percent in May 2022 (the lowest value since 2013)," Pirmatov said.
It was reported that National Bank of the Republic of Kazakhstan will continue to adhere to the flexible exchange rate regime.
"National Bank will continue to adhere to the regime of flexible exchange rate formation in order to exclude the accumulation of imbalances in economy and ensure the safety of gold and foreign exchange reserves," Pirmatov noted.