The stability of the foreign exchange and gold markets sent stray liquidity to the banks

In December 1400, people were more inclined to invest their capital in the form of short-term savings accounts, so that the amount of short-term savings in this period was 13 thousand and 14 thousand billion rials, which compared to December 1399, 35.7% and compared to In March 2016, it grew by 28.2%.

One-year and two-year savings are next in line with the willingness of people in the community to deposit surplus money. In December of 1400, about 10 thousand and 565 thousand billion Rials have been deposited in the one-year savings section and eight thousand and 719 thousand billion Rials as two-year savings.

One-year deposits in December 1400 compared to 1399, decreased by 5.4 percent and compared to March 1399, decreased by four percent.

Although the amount of deposits of individuals in two-year savings accounts in December 1400 was lower than one-year and short-term accounts, but statistics show a 242.5 percent increase in the tendency of people to open accounts in December 1400 compared to the same period in 1399.

Three-year, four-year and five-year deposits in December 1400, compared to the same period in 1399, were 66.7%, 7.3% and 10.2%, respectively.

The most important reason for the desire of people to make short-term, one-year and two-year deposits with banks is the stabilization of the foreign exchange market in recent months, because people choose different ways to invest, such as buying dollars, gold and housing.

In recent months, with the implementation of the central bank’s policies against foreign exchange traders and traders, after months of rising exchange rates, not only did the dollar fall, but in recent weeks the exchange rate remained stable in the market, causing people to turn away from the foreign exchange market. They preferred to invest their money in banks.

IRNA