The prime interest rate climbed to 21 percent for the first time in the history of the nation when the State Bank raised the interest rate by one percent.
Report issued by the State Bank is that the Monetary Policy Committee of the Central Bank met and discussed the status of the nation.
A 1% increase brought the policy rate to 21%.The interest rate was increased by 100 basis points by the Monetary Policy Committee.
This year, 300 basis points were added on March 2. In the current year of accounting, the annual percentage rate has gotten higher by 6.25%.
Interest Rate at Business State Bank