Kazakh citizens prefer tenge to foreign currency. Since 2015, the share of their savings in the national currency has increased from 24 percent to 65 percent. As of end-September, the amount of savings in second-tier banks made up 14.7 trillion tenge, Finprom.kz reports. Most deposits are kept in tenge, which is 65.4 percent compared to 34.6 percent of foreign currency deposits. It bears noting that seven years earlier, the share of foreign currency deposits was as high as 76.4 percent. In 2016, it reached the maximum value of 80 percent. It is from this period that domestic consumers start saving money mostly in the national currency, analysts say. According to experts, various measures have been taken in recent years to achieve this. They include the de-dollarization of the economy, the improvement of the effectiveness of monetary policy, the attractiveness of tenge assets, as well as a program to protect tenge deposits.
