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Level of deposits’ dollarization reduces by 2.2 percent for 6 months

Since the beginning of the year, the dollarization of deposits in Kyrgyzstan has decreased by 2.2 percentage points, making up 45.3 percent as a result of six months of 2018. The report on the monetary policy of the National Bank for the second quarter of 2018 says.

It is noted that the volume of the deposit base of commercial banks at the end of the second quarter amounted to 128.3 billion soms. Since the beginning of the year, the indicator has grown by 5.5 percent due to the growth of deposits in the national currency by 9.9 percent (up to 70.2 billion soms) and in the foreign currency — by 0.6 percent (up to 58.1 billion soms).

At the same time, the dollarization of deposits of individuals amounted to 38 percent (decreased by 3.2 percent), and legal entities — 50.8 percent (3.5 percent decrease).

Most often, the Kyrgyzstanis deposited money for up to one year. Such deposits account for 69.6 percent of all deposits. The weighted average rate on fixed-term deposits in national currency was 10.24 percent, in foreign currency — 3.63 percent.

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