Currency Deposits by Country

Currency Deposits by Country

CountryInflationGDPPopulationInterest RateChangeCurrencyLast Updated
Argentina27.6%15,85442,669,50029.10%ARSMay 2016
Ukraine49%6,665*42,977,36722.50% - UAHMay 2016
Uzbekistan11%$3,76230,492,80020.00% - UZSMay 2016
Iran15.3%12,258***77,895,30018.00% - IRRMay 2016
Mongolia8.3%4,7442,982,86115.10% - MNTMay 2016
Georgia4.1%6,1454,490,50014.00% - GELMay 2016
Uganda4.9%1,30536,600,00013.00% - UGXMay 2016
Azerbaijan2.4%9,552,50012.20%-11.50% - AZNMay 2016
Armenia6.2%5,3923,009,80011.00% - AMDMay 2016
Kazakhstan5.8%14,39117,353,70010.5% - KZTMay 2016

Foreign Currency Deposit Rates

While local deposit rates which can be denominated in national and foreign currencies are set by banks they are highly influenced by several factors outside of their control. These include but are not limited to inflation in an economy, competition, regulation/liquidity requirements as well as central bank policies. Central banks across the world set monetary policies accordingly to effectively improve an economy whether it is to cool them down or set policies for expansion. Different economies may be expansion while others contracting as gains and losses in trade impact economies. 

Economies in recession can be likely to set interest rates low with corresponding deposit yields being low, high performing economies may push rates high to cool down economies from overheating or alternatively rates may be forced higher because of rampant inflation. The following deposit rates indicate bank forecasts and policies which generally correspond with the associated central bank policies.

Highest Foreign Currency Account Rates by Deposit Interest Rates