Media ININ Economy We Trust
The interest rate among UAE banks (EIBOR) continued to rise, and it recorded for one year 5.05% in mid-December, which is 6 times higher than it was at the beginning of the year at 0.71%. The one-year EIBOR reached 5.13% in November.
The price of the “EIBOR” for one night rose above the 4% level, for the first time in years, and to double about 40 times from 0.1% last January. Over the past months, the one-night EIBOR rose in parallel with the rate hike, surpassing 1% in June, then 2% in July, before exceeding 3% in September, up to 4.098% on December 16, compared to 3.77% at the beginning of the month.
The EIBOR price for one week amounted to about 4.376% in mid-December, compared to 3.938% in the last month, and this is also a record for interest for years. The one-week EIBOR exceeded 1% for the first time in June, before exceeding 2% in July, 3% in September, and 4% in December.
