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.
Related Articles
Iran casts doubt on fragile ceasefire with Israel, warns of renewed response
Iran’s recently-installed Chief of Staff of the Armed Forces, Abdolrahim Mousavi, has voiced strong doubts over Israel’s commitment to the ceasefire that ended the recent 12-day war, warning that ... more
Iraq holds talks with Excelerate Energy on buying first LNG from US
Iraq is in the final stages of negotiating its first-ever purchase of LNG supplies as power outages hamper the Middle East country, Bloomberg reported on June 26. Dallas-headquartered Excelerate ... more
UAE's Air Arabia resumes flights to Iran, Iraq as regional airspace reopens
Sharjah-based Air Arabia will resume flights to Iran, Iraq, Georgia and Armenia from July 1 following the reopening of regional airspace after a 12-day conflict between Iran and Israel. The ... more