Interbank Lending in Iran Rises 67%

The aggregate value of interbank market transactions reached 107,149 trillion rials ($792 billion) in the last fiscal that ended in March to register a solid 67% growth compared to a year ago. 
According to IBENA, interest rates for the interbank lending averaged 19.47% in the previous year, up  5% compared to a year before. 
In terms of volume of deals, a total of 40,663 deals were conducted during the reviewed period compared to 38,101 in the inter-bank market a year before, indicating 6.7% rise. 
Interbank market is a market in which banks extend loans to one another for a specified term. Most interbank loans are for maturities of one week or less, the majority being overnight.