The average interbank interest rate for 12-month term plunged to 13% per annum on January 16, down 7.65% from January 13, and also the lowest level since November 17, 2011, the central bank’s data showed.

Interbank interest rates on January 16 fell for most terms. Specifically, the average rates declined from 0.23% p.a. to 0.93% for 1-week, 2-week, 1-month and 6-month terms compared to those of January 13.

Meanwhile, the overnight rates increased by 0.1% against January 13 to stand at 15.18% p.a. The average interest rate for 3-month term remained unchanged at 11.1% p.a.

 

Source Sophie/ StoxPlus