In January-September 2010 deposits of the Belarusian population in the national and foreign currency increased by more than Br4.3 trillion ($1.4 billion) or 23.8%, having reached Br22.5 trillion in early October ($7.5 billion). At the same time, deposits in national currency increased by 35.4% to Br10.8 trillion ($3.6 billion) and in foreign currency — by 9% to $3.86 billion.
In September, national currency deposits increased by nearly Br81.5 billion ($27.1 million), while in foreign currency — to $179.7 million, the press service of the National Bank of Belarus informs.
«This indicates a growing confidence in the ongoing National Bank interest rate policy. Interest rates on ruble deposits still retain their appeal and are significantly higher than both inflation and foreign currency savings yield,» the National Bank.
According to bank representatives, it intends to continue a balanced interest rate policy aimed at ensuring the national currency savings profitability and credit resources accessibility. The National Bank also recalled that, according to the Belarusian legislation, the full safety of people’s savings is guaranteed in all banks, in addition, personal income, made by placing funds in bank deposits, are not taxed.
Nevertheless, according to Telegraf, the head of Belarusbank Nadezhda Ermakova says that the Belarusians has been recently removing about Br5-7 billion (about $ 3 million) a day through the system. At the same time, according to a representative of the National Bank Anatoly Drozdov, the ruble deposits outflow is typical of only Belarusbank while other banks of the republic do not observe such a trend.
