Banks increase rates on deposits in manats

Banks increase rates on deposits in manats

On 1 August, the average interest rate on deposits and deposits in national currency – manat in Azerbaijani banks amounted to 10.36% against 10.33% on July 1, 10.26% on January 1, and 10.69% on August 1, 2011 year.

According to the Central Bank of Azerbaijan (CBA), the average rate on bank deposits in foreign currencies amounted to 10.77%, while on 1 July the rate was 10.79%,on 1 January – 11.11%, and on 1 August 1, 2011 – 11.16%.

At the reporting date the average interest rate on deposits of legal entities in manat was 7.01% against 6.25% on 1 July, 5.6% on 1 January and 5.65%  on 1 August last year, in foreign currency – 4.44%, 5.11%, 7.02% and 7.46% respectively.

In turn, the average rate on deposits of individuals in manat was on 10.67% on 1 August, 10.77% on 1 July, 10.76% on 1 January, and 11.42% on 1 August 2011.

Leave A Comment