Business • 22 February, 2018

Daniyar Akishev: Tenge 4% firm since beginning of 2018

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Kazakhstan’s chairman of the National Bank Daniyar Akishev told about the main economic indicators now, at an online conference.

"From the beginning of the year, Tenge has become firm by 4%. Demand for tenge in January increased. New loans in second level banks during January amounted to KZT 830 billion. The interest rate is 14.7%. Deposit dollarization is 45.4% (including 51% individuals' deposits)," Daniyar Akishev said.

According to him, since the beginning of 2018 inflation has slowed down.

"Inflation rate equals 6.8% on a year-to-year basis and corresponds to the preplanned 5-7% corridor. Gold and foreign currency reserves in January grew by 3.2% and equalled USD 31,7 billion. The National Bank assets amounted to USD 58,3 billion''.

"We observe excess tenge liquidity. It is regulated through short-term notes of the National Bank and today they amount to KZT 4 trillion. Instrument revenues are declining," said Daniyar Akishev.

 

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