Kyrgyzstanis began to open more deposits in banks in dollars

Bishkek, Dec. 15, 2022 / Kabar/. In the third quarter of 2022, there was a significant increase in the deposit base dur to saving accounts and an increase in demand deposits. This is stated in the report of the National Bank of Kyrgyzstan on monetary policy for the third quarter of 2022. According to the document, as of the end of September, the deposit base in the national currency exceeded the figures of December 2021 by 21.7% and amounted to 295.7 billion soms. It should be noted that this growth was mainly due to an increase in demand deposits by 29.1%, or KGS 9.2 billion, since December 2021, while term deposits increased by 10.0%, or KGS 5.9 billion. In foreign currency, the deposit base increased by 35.1% due to the growth of saving accounts by 57.5% and the increase in demand deposits by 32.1%, while time deposits decreased by 6.3%. Dollarization of deposits increased to 45.7% (+4.5 p.p. from December 2021), while dollarization adjusted for the exchange rate increased by 5.9 p.p. to 47.1%.