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Average interest rates on home-currency loans drop in Azerbaijan

27 February 2009 14:47 (UTC +04:00)

Baku. Vugar Israfilov â€“ APA-Economics. The average interest rate on home-currency loans started to decrease on the interbank money market of Azerbaijan this week.
Baku Interbank Currency Exchange (BICEX) said the average rate on interbank loans in the national currency decreased by 0.025 percentage points from February 23-27.
The main indicator of the money market Baku Ä°nterbank Offer Rate (BakIBOR) index (90-day) went up to 15.67% from 15.57%.
The National Bank of Azerbaijanâ€™ cut the refinancing rate to 5% in early February.

*INSTRUMENTS*	*23.02.2009*	*24.02.2009*	*25.02.2009*	*26.02.2009*	*27.02.2009*
*7 day BakIBOR (AZN)*	12,29%	11,42%	11,38%	11,00%	11,86%
*30 day BakIBOR (AZN)*	14,42%	14,50%	14,33%	14,00%	13,43%
*90 day BakIBOR (AZN)*	*15,57%*	*15,58%*	*15,33%*	*15,20%*	*15,67%*
*180 day BakIBOR (AZN)*	16,58%	17,00%	16,60%	16,60,4%	16,60%
*360 day BakIBOR (AZN)*	19,67%	19,67%	20,50%	20,50%	20,50%

Average decline in various interbank credit instruments was 0.425 percentage points. Baku İnterbank Bid Rate (BakİBİD) dropped to 10.17% from 10.44%.

*INSTRUMENTS*	*23.02.2009*	*24.02.2009*	*25.02.2009*	*26.02.2009*	*27.02.2009*
*7 day BakIBİD (AZN)*	6,43%	5,92%	6,86%	7,50%	6,57%
*30 day BakIBİD (AZN)*	8,83%	8,92%	8,50%	7,80%	8,50%
*90 day BakIBİD (AZN)*	*10,43%*	*10,58%*	*9,50%*	*9,60%*	*10,17%*
*180 day BakIBİD (AZN)*	10,42%	10,80%	9,50%	9,63%	9,50%
*360 day BakIBİD (AZN)*	12,75%	12,75%	12,00%	12,00%	12,00%