The Central Bank announced an increase in the yield of deposits in the national currency.

According to a report from the Central Bank of Uzbekistan, the increase in rates has affected both short-term and long-term deposits. For deposits with a term of less than a year, the yield rose by almost 1% to reach 17.9%, while for longer-term deposits, the rate increased to 20.6%.

Deposits from individuals in the national currency showed particularly notable growth: the yield returned to July levels, amounting to 22.1% per annum. Although there was a slight decrease in short-term accounts to 20.9% (-0.1%), this was offset by an increase in rates for deposits over a year to 22.4%.

Corporate deposits also demonstrated positive dynamics. The average yield rose to 17.1%, which is 0.9% higher compared to September. Rates for short-term corporate deposits reached 16.6% (+1.2%), while for long-term deposits, it was 17.6% (+0.4%).

On the other hand, there was an overall decline in yields for foreign currency deposits. The average rate decreased to 4.8% for both individuals and legal entities. For citizens, the yield on short-term foreign currency deposits was 3.6%, while for long-term deposits, it stood at 5.1% (-0.1%). In the corporate segment, the decline was more pronounced: rates for short-term deposits fell to 2.4% (-1.9%), although for long-term deposits, there was an increase to 6.6% (+0.7%).

Thus, in October, deposits in the national currency became more attractive for the population and businesses due to the increase in yields. At the same time, the decrease in rates for foreign currency deposits indicates a reduction in their competitiveness amid the strengthening of the national economy.