Azerbaijan, Baku, Jan. 5 / Trend I.Khalilova /
As of November 1, 2012, the Azerbaijani banks significantly raised rates on deposits of legal entities in manat, but reduced rates for the same deposits in foreign currency.
According to the statistical report of the Central Bank of Azerbaijan (CBA) published on its website, the average rate on deposits in manat as of November was 10.08 percent versus 10.26 percent by January 1, 2012 and 10.64 percent by November 1, 2011.
The average rate on deposits in foreign currency amounted to 10.30 percent versus 11.11 percent and 11.20 percent respectively.
As of November 1, the average rate on deposits of individuals in manat was 10.37 percent, as of January - 10.76 percent, by early November 2011 - 11.22 percent. The average rate on deposits of individual customers in foreign currencies amounted to 10.84 percent versus 11.27 percent and 11.33 percent respectively.
As of early November, the average rate on deposits of legal entities in manat was 6.96 percent compared to 5.60 percent by January 1, 2012, and 6.05 percent - by November 1, 2011. The average rate on deposits of corporate clients in foreign currency amounted to 3.79 percent compared to 7.02 percent and 7.53 percent respectively
