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Azerbaijani population prefer to keep savings in foreign currency - ANALYSIS

Azerbaijani population prefer to keep savings in foreign currency - <span style="color: red;">ANALYSIS

15 April 2015 14:33 (UTC +04:00)

Baku. Yegane Lachinzade – APA-Economics. As of March 1, 2015, the deposits placed by the customers in the banks made AZN 18,482 mln, up AZn 5,555.1 mln or 42.97% from previous year, said the Central Bank of Azerbaijan.

Along with this, the deposits increased AZN 3,347 mln or 22.11% in February.

6,120,000,000 or 33.1% of deposits are in manat, 12,362,000,000 or 66.9% in foreign currencies.

During the reporting period, the personal savings amounted to AZN 7,932.7 mln, up AZN 1,341 mln or 20.34% in annual comparison. Of this, 2,987.8 mln were in manat, 4,944.9 mln in foreign currency. Manat deposits declined AZN 1,040.7 mln year-on-year. Compared to January, the manat deposits fell AZN 1,288.5 mln in February. Share deposits placed in February dropped to 37.66%.

Generally, personal savings increased AZN 811.4 mln in February. Moreover, personal savings in manat have declined since December, 2014. So, the manat deposit made AZN 164.1 mln in January, while it was AZN 4,422.4 mln in December.