Financial Tribune - Interest rates for interbank lending dropped 3.9% in the last fiscal year (March 2019-20) compared to the year before, according to Central Bank of Iran data.

The lending rate dropped from an average 19.72% in fiscal 2018-19 to an average 18.95% in the previous year with rates ranging from 16%-23%.

A look at interbank deals in the past fiscal year shows that lending rates were of the descending order. Rates were as high as 19.81% during the first month of last year (March-April 2019) to 18.34% at the last month (ending March 19).