Kazakhstan Eases Restrictions on Foreign Currency Deposit Rates

Kazakhstan's Deposit Insurance Fund (KFGD) is liberalizing regulations on foreign currency deposit rates. Starting October 1, the maximum rate for new or renewed savings accounts over 12 months has increased from 1% to 2.5% annually. This move is attributed to the successful de-dollarization of the deposit market, with foreign currency deposits falling from 80% in 2015 to 19.2% by September 2026.

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