Central Bank releases data on interest rates in August

The weighted average one-day ruble credit rate was 4.9 percent in August2002 on the Moscow market against 13.4 percent in July this year, and thisfigure dropped 7.3 percent as compared to January 2001. According to thedata on interest rates released by the Foreign and Public Relations of theRussian Central Bank, this figure is the lowest this year. The average rateof return of treasury bills (GKO) issued for not more than 90 days rose 0.3percent to 12.4 percent in August 2002 against July 2002, which is also 0.7percent lower than the figure reported in January this year. The interestrate of credits granted by Russian banks to companies and organizations was16.1 percent in July this year, a decrease of 1.9 percent from the figureposted in January this year and a 0.9 percent decrease from the figurereported in June this year. The interest rate for private customers'deposits was 4.4 percent in July this year (against 4.1 percent in January2002). Additionally, the Central Bank released data on weighted average interestrates for short-term credits provided by credit institutions in US dollarsin June 2002. The interest rate for credits provided for companies andorganizations was 10.3 percent (10.1 percent in January 2002, 10.6 percentin May 2002) and for private customers - 11.8 percent (13.9 percent inJanuary 2002, 10 percent in May 2002)..

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