Tehran, Iran, August 20
By Mehdi Sepahvand – Trend:
Interbank interest rate in Iran stood at 18.62 percent for the previous fiscal year (which ended March 20), the Central Bank of Iran (CBI) reported August 20.
According to the report, the number interbank transactions carried out in the rial during the mentioned year hit 31,403, the value of which was 30.96 quadrillion rials ($939 billion for each USD at 32,943 rials). The range of interbank interest covered 16 to 28 percent, according to the CBI.
Private banks were responsible for 47 of the transactions and their average interest rate stood at 19.58 percent.
Governmental banks’ share of the transactions was 52 percent and their interest rate stood at 18.05 percent in average.
Also, the number and value of the transactions saw increments of 36.7 and 42.6 percent year on year respectively.
The interest rate charged on loans in Iran’s interbank lending market stood at 18.9 percent for the previous fiscal year that ended March 20, 2016.
