Interest Rates Rise to All Time High of 25%

Some state banks have started offering higher interest rates on deposits even though the Central Bank of Iran has not yet approved the increase, media reports in Tehran said Monday.
A report by EcoIran Web TV said some state-owned banks have raised interest by up to 25%. Both state and private banks also are charging between 24%-25% on lending from 18% last week.
The Money and Credit Council (MCC), the top decision-making body of financial and monetary markets is expected to endorse the higher rates. The former CBI chief Ali Salehabadi in the final days of his office late last month had spoken about the possibility of higher rates.