The total volume of banking deposits in Azerbaijan rose 5.7 percent year-on-year to 23.5 billion manats ($13.8 billion) by March 1, the central bank said.

The volume of deposits in national currency increased by 609 million manats or 6.2 percent, to 10.4 billion manats, and in foreign currency declined by 2.5 billion or 13,5 percent to 13.7 billion manats.

Deposits of individuals, which have a 49.8 percent share in the total volume of deposits, declined by 3.6 percent to 8.4 billion manats.

Deposits’ dollarisation level amounted to 55.6 percent, which is 5 percent less than in the same period last year. Since the beginning of this year, the dollarisation of deposits fell by 0.7 percent.