Iran’s interbank offered rate stands at 18.7%
Baku, Azerbaijan, Sept. 15
By Khalid Kazimov – Trend:
Central Bank of Iran (CBI) has announced that the interbank offered rate (IBOR) in the country has stood at 18.7 percent over the current Iranian month (started on August 22).
Interest rate at which banks lend to and borrow from one another in interbank market. IBORs serve as an indicator of levels of demand and supply in all financial markets.
According to an statement published on the official website of the CBI, the number of banks involved in interbank deals has reached 31 over the first five months of the current Iranian year (starting March 20), indicating a considerable increase compared to 27 banks in the same period of last year.
In the meantime, the number and value of the daily deals carried out over the first five months of the current Iranian calendar year have averagely increased by 35.1 percent and 78.9 percent respectively year-on-year.
The report added that the number of deals has reached 100 valued at $3.96 billion (124.2 trillion rials, by official USD rate on Sep.15) over the mentioned five months.
Earlier in March, the CBI said that the interbank offered rate in the country was set at 17 percent.