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Level of deposit dollarization in Kyrgyzstan reaches historic low in 2018

In the fourth quarter of 2018, dollarization of deposits in Kyrgyzstan has reached its historic low since 1999. Report of the National Bank says.

Dollarization of deposits decreased by 1.2 percent and amounted to 43.9 percent. Dollarization of deposits of individuals and legal entities decreased by 5.1 and 3.8 percent, respectively, reaching 36 and 50.6 percent.

The volume of the deposit base of commercial banks at the end of 2018 amounted to 133.1 billion soms, having increased since the beginning of the year by 9.5 percent. This was due to the growth of deposits in national currency by 16.9 percent — up to 74.6 billion, in foreign currency — by 1.3 percent to 58.5 billion in Kyrgyz soms.