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The most profitable financial instruments in Kazakhstan named

The National Bank analyzed the nominal yield for 2022 of the most popular financial instruments for investment in Kazakhstan. Bank deposits of different currencies (KZT, USD, EUR, RR), gold, cash (USD, EUR, RR and KZT) were compared. The stock market of Kazakhstani companies was also considered alternatively.
The most profitable financial instruments in Kazakhstan named

As part of the analysis, it was assumed that the depositor invested 10 thousand tenge in various instruments in the Kazakhstani market at the beginning of 2022 at the current exchange rate/quotation as of year beginning followed by conversion into tenge at the exchange rate/quotation as of end of the year.

Due to high interest rates, the tenge savings deposit brought the highest return of 13.9%. Including the state bonus of 10% provided that the deposit stays intact as of February 23, 2022, the return on the savings deposit could be 24.1%.

Placing money in dollar deposits, with the maximum income and changes in the tenge exchange rate against the US dollar, brought a return of 7.9%, which was almost two times less than the yield of a tenge savings deposit. This data takes into account exchange rate changes - tenge against the US dollar for 2022 weakened from 431.67 to 460.98.

Ruble deposits brought the return of 12.6%, which was 1.1 times less than the return on tenge savings deposit. Tenge weakened against the Russian ruble in 2022 from 5.77 to 6.43 due to a significant strengthening of the ruble against the US dollar. This happened against the backdrop of capital controls introduced in the Russian Federation, high prices for major export commodities, including energy resources, coupled with a significant reduction in imports.

In terms of nominal yields, cash savings in Russian rubles and US dollars are next, with a return of 11.4% and 7.1%, respectively, due to exchange rate changes.

The potential return on investment in gold was 7.2%. In 2022, the price of the precious metal increased from 24,970.91 to 26,757.56 tenge per gram amid high market demand for stable assets due to geopolitical and economic events that influenced market volatility.

Keeping investments in euro deposit, taking into account the maximum rate in the second-tier banks of the Republic of Kazakhstan and exchange rate changes, brought a yield of 2.1%, in cash euros - 1.0% due to tenge depreciation against the euro from 487.79 to 492.86.

Investing in stocks of Kazakhstani companies demonstrated a potential negative return for 2022 at the level of minus 11.5% on the KASE exchange and minus 15.0% on the AIX exchange against the backdrop of a slowdown in commodity markets (oil and uranium).

In general, there has been a decrease in investor risk appetite during 2022, against the backdrop of a correction in global equity markets. Investing in the S&P 500 index resulted in a loss of 11.0% (in foreign currency terms, the decline for the year was 19.4%).

Photos are from open sources.

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