Interbank loans reduced in Azerbaijan

Baku. 19 July. REPORT.AZ/ Azerbaijan decreased the average interest rate on interbank loans in Azerbaijani manat and foreign currency. The average interest rate on manat credits for May decreased by 0.68 per cent and as of June 1 amounted to 4.64% per annum, for foreign currency loans - by 0.06 per cent - to 4.49% per annum.

Report informs referring to the Central Bank of Azerbaijan, the highest rate of interest is fixed on manat credits for a period of 30-90 days - 8.95% per annum, for foreign currency loans - 11.43% per annum. The lowest interest rate is fixed on manat credits for more than a year - 1.25%, in foreign currency for a period of a month - 2,05%.