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Interest Rates in 2007

% per annum

Jan. Feb. Mar. Apr. May June July Aug. Sep. Oct. Nov. Dec.
Interbank Rate1 3.3 3.8 4.8 3.3 3.3 3.4 3.5 5.2 6.2 5.7 6.3 4.4
GKO Yield of the Bank of Russia obligations2
OBR Yield of the Bank of Russia obligations3 4.7 4.7 5.0 5.0 4.6 4.5 4.2 4.6 5.7 5.0 5.0 5.1
Deposit Rate4 5.0 4.7 5.2 5.2 5.1 5.2 5.1 5.1 5.2 5.4 5.3 5.2
Deposit Rate4, except demand deposits 7.5 7.4 7.4 7.5 7.2 7.2 7.0 7.0 7.0 7.2 7.2 7.3
Loan Rate5 10.0 9.9 10.0 9.8 9.5 9.5 9.2 9.9 10.4 10.6 10.8 10.8
2007 Q1, 2007 Q2, 2007 Q3, 2007 Q4, 2007
Interbank Rate1 4.4 4.0 3.3 4.9 5.4
GKO Yield of the Bank of Russia obligations2
OBR Yield of the Bank of Russia obligations3 4.8 4.8 4.7 4.8 5.0
Deposit Rate4 5.1 5.0 5.2 5.1 5.3
Deposit Rate4, except demand deposits 7.2 7.4 7.3 7.0 7.2
Loan Rate5 10.0 9.9 9.6 9.8 10.7
1 Interbank Rate — an average-weighted rate on overnight interbank ruble credits on the Moscow market.
2 GKO Yield of the Bank of Russia obligations — an average-weighted GKO Yield of the Bank of Russia obligations by volume and term of circulation with a maturity of up to 90 days.
3 OBR Yield of the Bank of Russia obligations — an average-weighted Yield of the Bank of Russia obligations by volume and term of circulation.
Deposit rate — an average-weighted rate on household ruble deposits with credit institutions for a term of up to one year.
Since April 2006, in accordance with Ordinance No.1660, dated February 17, 2006, data of credit institutions’ branches are included in the calculation of rates on banks’ credit and deposit operations.
Loan rate — an average-weighted rate on ruble loans to non-financial institutions with a maturity of up to one year.
Since April 2006, in accordance with Ordinance No.1660, dated February 17, 2006, data of credit institutions’ branches are included in the calculation of rates on banks’ credit and deposit operations.

Annual and quarterly rates are calculated as an average of monthly data.
Updated May 16, 2008.