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Average interest rates on home-currency loans move down in Azerbaijan

Average interest rates on home-currency loans move down in Azerbaijan

31 July 2009 11:18 (UTC +04:00)

Baku. Vugar Israfilov â€“ APA-Economics. As of July 1, the average interest rate on home-currency loans has decreased by 0.65 percentage points to 17.12%, said the Central Bank of Azerbaijan.

The average rate for legal entities fell by 0.75 percentage points to 14.89% while increased by 0.25 percentage points to 21.19%, according to the statistics.

The National Bank of Azerbaijan slashed down the refinancing rate to 2% from 15% at stages however this move has not affected lending by commercial banks yet.

	Average rate		For legal entities		For individuals
	Manat	Foreign currency	Manat	Foreign currency	Manat	Foreign currency
01.07.08	17.76	14.11	15.55	11.52	20.94	21.05
01.01.09	17.45	14.52	14.87	12.37	21.53	21.52
01.07.09	17.12	17.59	14.80	15.01	21.19	22.67

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