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Interest Rates in 2011

% per annum

January February March April May June July August September October November December
Interbank Rate1 2.7 2.8 3.1 3.2 3.7 3.7 3.8 3.9 4.4 4.9 5.1 5.4
GKO Yield of the Bank of Russia obligations2
OBR Yield of the Bank of Russia obligations3 3.4 3.5 3.5 3.4 3.7 3.7 3.6 3.6 3.6 3.9
Deposit Rate4 4.5 4.4 4.2 4.1 4.1 4.2 4.0 4.1 4.0 4.5 5.5 5.7
Deposit Rate4, except demand deposits 5.4 5.3 5.2 5.1 5.1 5.1 5.0 5.1 5.1 5.6 6.6 6.9
Loan Rate5 8.6 8.7 8.7 8.3 8.0 8.6 7.9 7.9 8.0 8.6 8.8 9.3
2011 Q1, 2011 Q2, 2011 Q3, 2011 Q4, 2011
Interbank Rate1 4.0 2.9 3.6 4.1 5.1
GKO Yield of the Bank of Russia obligations2
OBR Yield of the Bank of Russia obligations3 3.6 3.5 3.6 3.6 3.9
Deposit Rate4 4.4 4.4 4.1 4.0 5.2
Deposit Rate4, except demand deposits 5.4 5.3 5.1 5.1 6.4
Loan Rate5 8.5 8.7 8.3 8.0 8.9
1 Interbank Rate — monthly average rate MIACR on overnight interbank ruble credits.
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.
Loan rate — an average-weighted rate on ruble loans to non-financial institutions with a maturity of up to one year.

Annual and quarterly rates are calculated as an average of monthly data.

Updated July 5, 2012.