Term deposits increased at a noticeable pace compared to sight deposits indicating savers are now eager to park their money for longer periods in banks, the Central Bank of Iran reported.
Total sight deposits reached 1,127 trillion rials ($36.4 billion) by the end of the fifth calendar month to August 22 -- 59% higher on the same period last year. It was up 25.2% from the end of the last fiscal year in March.
Term deposits lagged rising 32.5% to reach 41,854.8 trillion rials ($135.6b) in the same period or a fifth of sight deposits.
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