Interbank lending rate in Iran edges down to 23.72%

By bne Tehran bureau November 1, 2024

Iran's interbank lending rate decreased slightly to 23.72% in the week ending October 31, down from 23.76% the previous week, according to Central Bank of Iran data.

The weighted average rate has been hovering above 23% as the central bank maintains tight monetary policy amid persistent inflation pressures and currency volatility including the devaluation of the Iranian rial.

The interbank rate serves as a key benchmark for Iran's money market and influences broader lending rates across the banking system.

The central bank closely monitors this rate as part of its efforts to control liquidity and manage inflation.

The modest decline comes as Iranian banks face challenges in managing their liquidity positions amid economic uncertainties and ongoing international sanctions that limit their access to global financial markets.

The rate remains significantly higher than in previous years, reflecting both the monetary authority's anti-inflation stance and the broader economic challenges facing Iran's banking sector.

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