Dollarization of bank deposits in Azerbaijan continues to decline

11.09.2019,15:42


September 11, Fineko/abc.az. The trend towards a decrease in the dollarization of bank deposits in the first half of 2019 continues, Abc.az reports citing the Central Bank's monetary policy review for January-June.

According to the survey, compared with the beginning of the year, time deposits and deposits in national currency increased by 11.7%, and in foreign  currency grew by 3.5%. Also, the proportion of deposits and deposits in foreign currency in the M3 monetary aggregate fell to 39.1% by the end of the period, and at the beginning of the period it amounted to 37.4%.

The review also notes that dollarization of retail deposits decreased from 62.5% at the beginning of 2019 to 56.5% at the end of the first half of the year.

Posted by Elmir Murad