14.Sep .2020 18:13

Dollarization ratio of deposits in banks has been reduced to 61%

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According to the Banking Association of Georgian, in July 2020, the level of dollarization of deposits decreased in the country and amounting to 61.37% of the total portfolio. Compared to the same period of 2019, this figure is reduced by 3.37 percentage points.

Statistics show that the decline in dollarization is due to a significant decrease in the share of foreign currency in term-deposits, while the share of foreign currency in current and demand deposits has increased on the contrary.

According to the types of deposits, the dollarization ratio is as follows:

• Current deposits - 56.38% dollarization increase of 0.49% compared to the previous year;
• Demand deposits - 66.30% increase in dollarization compared to the previous year 2.89%;
• Term deposits - 62.06% decrease in dollarization compared to the previous year 9.87%

Total volume of deposits amounted to 30.5 billion GEL in the Georgian banking system.