Interest Rates in 1996

% per annum

	Jan.	Feb.	Mar.	Apr.	May	June	July	Aug.	Sep.	Oct.	Nov.	Dec.
Interbank Rate1	31.1	29.3	67.9	36.5	30.5	63.9	44.7	31.5	38.6	29.4	26.7	26.4
GKO Yield of the Bank of Russia obligations 2	80.2	52.2	67.5	69.2	107.9	110.7	64.3	50.2	46.2	39.5	35.5	33.6
Deposit Rate3	54.0	54.0	38.4	38.4	48.0	48.0	48.0	48.0	48.0	48.0	30.0	30.0
Loan Rate4	119.0	108.0	105.0	105.0	104.4	105.4	94.3	83.0	94.7	65.0	61.3	51.6

1 Interbank Rate — an average-weighted rate on overnight interbank credits in 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 terms of circulation with maturities of up to 90 days. Calculated with the use of simple interest pattern .

3 Deposit Rate — a prevailing rate on the time deposit with monthly interest payment for amounts of RUR 300,000.

4 Loan Rate — an average-weighted rate on credits to enterprised and organisations for a term of up to one year in regional markets. It is set with the use of simple interest.

Updated November 20, 1998.