DUSHANBE, November 16, 2011, Asia-Plus  -- Deputies of the Majlisi Namoyandagon (Tajikistan’s lower chamber of parliament) have endorsed the report of the National Bank of Tajikistan (NBT) on the country’s monetary policy in January-September this year and the NBT forecast for 2012.

In his speech in parliament, the NBT deputy chairman Jamshed Yusufiyon noted on November 16 that over the first nine months of this year, the country’s gross domestic product (GDP) has amounted to more than 20 billion somoni and the country’s external trade turnover over the report period has amounted to 3.3 billion U.S. dollars.

Tajikistan’s money holding has risen 15 percent in a year to October 1, 2011, he said.

The NBT deputy chairman also noted that one bank and two credit organizations have been registered in the country this year, bringing the total number of banks in the country to 15 and the total number of credit organizations to 122.  General assets of Tajikistan’s banks and credit organizations have reportedly risen 33 percent in a year to October 1, 2011.

“Over the first nine months of this year, deposits of physical and legal entities kept at Tajik banks have risen 40 percent in a year to October 1, 2011, reaching 4.1 billion somoni,” said Yusufiyon, “Over the report period, local banks have provided 4.9 billion somoni in loans, which is 38 percent more than in the same period last year.”

According to him, the total volume of remittances made in Tajikistan in January-September this year has exceeded 110 billion somoni.

MP Lutfullo Saidmurodov asked why Tajikistan is going to use the Australian dollar as reserve currency along with internationally known currencies while replenishing its gold and currency reserves in 2012.

Yusufiyon said that Tajik central bank decided to use also the Australian dollar as reserve currency “because risks are permanently present in the zones of the USD, the Euro as well as Chinese and Japanese currencies, while the currency such as the Australian Dollar may mitigate the fall of other currencies.”