BAKU, Azerbaijan, May 3. Deposits of the population increased by 3.0 percent to 30.7 trillion Kazakh tenge ($68.8 billion) in Kazakhstan in March 2023, Trend reports via Kazakhstan's Agency for Regulation and Development of Financial Market.
According to the agency, deposits of legal entities increased by 4.3 percent to 15 trillion Kazakh tenge ($33.6 billion), while deposits of individuals grew by 1.8 percent to 15.7 trillion Kazakh tenge ($35.2 billion).
Deposits in national currency increased by 3.7 percent in March 2023 to 21.6 trillion Kazakh tenge ($48.4 billion), while those in foreign currency rose by 1.3 percent to 9.1 trillion Kazakh tenge ($20.4 billion).
As a result, the level of dollarization decreased as of April 1, 2023, and amounted to 29.8 percent, compared to 31.6 percent at the beginning of 2023.
The weighted average interest rate on term deposits in the national currency of non-bank legal entities in March 2023 remained the same as in February and stood at 14.5 percent, while that on deposits of individuals also remained unchanged since February and totaled 13.5 percent in March.