Iran: Appreciation Grows in Sight Deposits

With money supply expanding at tremendous speed the growth of sight deposits in banks far outpaced term deposits in the first six months of current fiscal year (March 20- Sept.21) 
This reflects the people’s reluctance to keep money in banks for extended periods as they expect prices to rise higher than the interest banks offer.  
Total sight deposits rose by 2,572.5 trillion rials ($8.7 billion) in the period ending Sept. 21 to reach 5,407.4 trillion rials ($18.6b) -- a whopping 90.7% annualized growth.  Sight deposits rose 47.7% during the six months, according to a CBI monthly report seen on its website.