In a statement issued on Wednesday, LPS stated that the guaranteed interest rate for foreign currency deposits at commercial banks remains unchanged at 1.50 percent.
The new guaranteed interest rate will be valid between May 15 and September 14, 2014.
According to the LPS, the guaranteed interest rate was based on several considerations, such as an upward trend in the lending rate. During the January-April 2014 period, the benchmark interest rate monitored by the LPS increased by 24 basis points.
The other consideration is that the guaranteed interest rate is expected to cover 90 percent of the overall depositors who put their money in banks across the country.
The LPS has forecast that several factors will influence the development of bank liquidity in the next few months. The position of net foreign assets in money supplies will have the potential to ease, while on the other hand, net domestic assets will remain tight. (*)
Editor: Heru Purwanto
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