• Samba 65 00% 56.65%
    Joga2002 635.254 50% 63.63%
    Bra52 69 23.145% -63.25%
    Joga2002 635.254 50% 63.63%
  • HangSang20 370 400% -20%
    NasDaq4 33 00% 36%
    S&P5002 60 50% 10%
    HangSang20 370 400% -20%
    Dow17 56.23 41.89% -2.635%

EghtesadOnline: The Central Bank of Iran reported 40% rise in term deposits on an annualized basis by the end of the 10th calendar month to Jan. 20.

Total term deposits reached 36,280.8 trillion rials ($141 billion) indicating 30% increase in ten months. 

Sight deposits rose 42% in the same period, reaching 7,996.7 trillion rials ($31b) – up 29.5%.  

CBI data categorizes term deposits into long-term, short-term and Qarzol-Hassanah (interest-free) deposits. Short term deposits stood at 13,014.8 trillion rials ($50.6b), registering 47.2% growth on an annualized basis. Long-term deposits jumped to 19,346.7 trillion rials ($75b), up 40%. 

Total Qarzol-Hassanah deposits increased 46% in the 12 months to Jan. 20, reaching 2,819.4 trillion rials ($10.7b). 

Interest on one-year deposits is presently 16% and two-year deposits 18%. On short-term deposits with 3-month maturity, the rate is 12% and 14% for six-month deposits. Sight deposits bear no interest. 


A glance at CBI data over the past few months shows that depositors prefer to park their money in banks for longer periods. A report on deposits in January 2021 showed annual growth of 71% for sight deposits and 34% growth in term deposits. The new figures indicate a shift in the durability of deposits.

Term deposits lagged behind sight deposits over the past two years because steep volatility in asset markets pushed savers to invest in stocks, gold and currency as safe havens.     

Thanks to the ballooning liquidity flowing into financial markets, currency, gold and share prices soared dramatically last year.

Decline in inflation expectations can also be inferred from changes in the composition of money supply, namely money (M1) and quasi money (M2). (M1) stood at 8,733.8 trillion rials ($34b) rising 39.2% in the month to Jan.20 compared to the corresponding period last year. 

On the flip side, near money (M2) reached 36,280.8 trillion rials ($141b) increasing 40% on an annualized basis. 

M1 is the money supply composed of currency, demand deposits and other liquid deposits—which includes savings. M1 includes the most liquid portions of the money supply because it contains currency and assets that either are or can be quickly converted to cash.

M2, also called near-money, refers to less liquid assets that can be quickly exchanged for cash. Examples are bank certificates of deposit and treasury bills.