National bank characterizes inter-bank money market of the republic in May 2008

/IRBIS, June 10, 08/ - The National Bank of the Republic of Kazakhstan in its press-release on the state of the republic's financial market cited information on the state of the inter-bank money market of Kazakhstan in May 2008. Quotation start In May 2008 the total volume of offered inter-bank deposits decreased compared to April 2008 by 14.0% (since the year beginning - by 50.6%) and made in equivalent KZT6095.1 bn. Volume of offered inter-bank tenge deposits decreased by 61.1% and made KZT652.9 bn. (10.8% from the total volume of offered deposits). At that average weighted interest rate on offered inter-bank tenge deposits in May decreased from 5.98% to 5.43%. The volume of deposits borrowed from the second tier banks by the National Bank increased in May almost 2.6 times, compared to April (since the year beginning - 22.3 times) and made KZT522.5 bn.. In May 2008 the volume of offered dollar deposits decreased by 16.8% and totaled $33.2 bn. (65.7% from the total volume of offered deposits). The weighted average interest rate on offered dollar deposits decreased from 2.57% to 2.23%. The volume of offered deposits in euro - in May 2008 also decreased by 21.9% and made 7.5 bn. euro (23.0% from the total volume of offered bonds). Average weighted interest rate on deposits offered in euro increased from 3.92% to 3.95%. Volumes of offering to ruble deposits remain insignificant - less than 1% from total volume of offered deposits. On the whole, the stake of inter-bank deposits in foreign currency remains high - 89.3% of the total volume of offered deposits. At that the main part of deposits in foreign currency (87.1%) is offered in the banks-nonresidents. Quotation end [2008-06-10]