Venezuela - Deposit interest rate (%)

The value for Deposit interest rate (%) in Venezuela was 14.73 as of 2017. As the graph below shows, over the past 33 years this indicator reached a maximum value of 53.75 in 1993 and a minimum value of 8.93 in 1986.

Definition: Deposit interest rate is the rate paid by commercial or similar banks for demand, time, or savings deposits. The terms and conditions attached to these rates differ by country, however, limiting their comparability.

Source: International Monetary Fund, International Financial Statistics and data files.

See also:

Year Value
1984 12.29
1985 10.52
1986 8.93
1987 8.94
1988 8.95
1989 28.91
1990 27.82
1991 31.10
1992 35.43
1993 53.75
1994 39.02
1995 24.72
1996 27.58
1997 14.70
1998 34.84
1999 21.28
2000 16.30
2001 15.51
2002 29.00
2003 17.21
2004 12.60
2005 11.63
2006 10.26
2007 10.71
2008 16.15
2009 16.41
2010 14.80
2011 14.59
2012 14.51
2013 14.50
2014 14.68
2015 14.89
2016 15.09
2017 14.73

Development Relevance: Both banking and financial systems enhance growth, the main factor in poverty reduction. At low levels of economic development commercial banks tend to dominate the financial system, while at higher levels domestic stock markets tend to become more active and efficient. The size and mobility of international capital flows make it increasingly important to monitor the strength of financial systems. Robust financial systems can increase economic activity and welfare, but instability can disrupt financial activity and impose widespread costs on the economy.

Limitations and Exceptions: Countries use a variety of reporting formats, sample designs, interest compounding formulas, averaging methods, and data presentations for indices and other data series on interest rates. The IMF's Monetary and Financial Statistics Manual does not provide guidelines beyond the general recommendation that such data should reflect market prices and effective (rather than nominal) interest rates and should be representative of the financial assets and markets to be covered. For more information, please see http://www.imf.org/external/pubs/ft/mfs/manual/index.htm.

Statistical Concept and Methodology: Many interest rates coexist in an economy, reflecting competitive conditions, the terms governing loans and deposits, and differences in the position and status of creditors and debtors. In some economies interest rates are set by regulation or administrative fiat. In economies with imperfect markets, or where reported nominal rates are not indicative of effective rates, it may be difficult to obtain data on interest rates that reflect actual market transactions. Deposit and lending rates are collected by the International Monetary Fund (IMF) as representative interest rates offered by banks to resident customers. The terms and conditions attached to these rates differ by country, however, limiting their comparability. In 2009 the IMF began publishing a new presentation of monetary statistics for countries that report data in accordance with its Monetary Financial Statistical Manual 2000. The presentation for countries that report data in accordance with its International Financial Statistics (IFS) remains the same.

Periodicity: Annual

Classification

Topic: Financial Sector Indicators

Sub-Topic: Interest rates