Growth of deposits in tenge is observed since the beginning of year
Chairman of National Bank of Kazakhstan Daniyar Akishev reported about increase in a share of deposits in tenge and decrease in foreign currency deposits in 2016 at a meeting of the government, BNews.kz correspondent reports.
"There was a change of structure of deposits in 2016. According to the preliminary data, deposits in tenge grew by 53.2% in 11 months, in foreign currency decreased by 10%. As a result the level of dollarization of deposits decreased from the maximum level in the amount of 70% which was in January of 2016, to 56.7% in November, 2016," the head of the National Bank said.
As D. Akishev noted deposits of legal entities in tenge and in foreign currency have almost reached parity.
"In structure of household deposits the share of foreign currency deposits decreased to 64.4% in November of 2016 from the maximum value of 80% in January, 2016," D. Akishev added.
Also he said that the National Bank does not interfere with fundamental trends which develop under the influence of external and internal factors.
"The National bank does not carry out intervention in the foreign exchange market for three months, since September of 2016, respectively the share of our participation constitutes 0%," D. Akishev said.