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Azerbaijan reduces interest rates on deposits

Average interest rates on foreign currency deposits and loans amounted to 8.33%

Baku. 12 October. REPORT.AZ/ In August, 2015 the average interest rate on manat deposits and deposits decreased to 7,98%. Report informs referring to the information given by the Central Bank of Azerbaijan Republic (CBAR), in comparison with July of this year interest rates decreased by 0.43 points or 5.1%.

Average interest rates on foreign currency deposits and loans amounted to 8.33%, which is less by 0.03 points or 0.36% than in July. Main reason for the decline in interest rates is the high liquidity of banks and a reduction population's demand for loans. It's expected, this trend will continue up to the end of 2016.

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