Growth in term deposits lagged behind sight deposits as more depositors park money for shorter periods in banks, recent data from the Central Bank of Iran show.
Total sight deposits reached 8,671.1 trillion rials ($27.9 billion) by end of the first calendar month on April.20, which was 47.3% higher from the same period last year. Term deposit rose 36.8% to reach 38,713.1 trillion rials ($124.8b).
Sight deposits had been the main laggard for months given the deep recession in asset markets but new data show a shift.
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