Table 8. Interest Rates, 2019 - 2024
(Weighted average; In % per annum, end of period)
Period Maldives Monetary Authority Government Commercial banks (local currency) Commercial banks (foreign currency) Other financial institutions
Standing Facilities Treasury bills 1/ Deposits Loans & advances Deposits Loans & advances Stock exchange
Overnight deposit facility Overnight lombard facility 28 91 182 364 Transferable deposits Saving deposits Time deposits Public nonfinancial corp. Pvt. sector Transferable deposits Saving deposits Time deposits Public nonfinancial corp. Pvt. sector Share prices
up to 3 m 3 to 6 m 2 to 3 yr up to 3 m 3 to 6 m 2 to 3 yr Masix Index (Period Average) Masix Index (End of Month)
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) (14) (15) (16) (17) (18) (19) (20) (21) (22)
2019
1.50
10.00
3.50
3.87
4.23
4.60
1.48
1.50
2.98
2.65
4.72
9.83
11.59
0.73
2.00
2.66
3.11
1.75
8.58
8.49
189.22
199.05
2020
1.50
10.00
3.50
3.87
4.23
4.60
1.51
1.49
2.50
3.04
4.75
8.74
11.55
0.80
1.92
2.27
3.18
1.75
7.91
8.48
197.32
199.25
2021
1.50
10.00
3.50
3.87
4.23
4.60
1.49
1.49
2.20
2.74
4.39
8.58
11.39
0.79
1.41
3.28
2.81
1.75
8.03
8.03
194.94
191.07
2022
1.50
10.00
3.50
3.87
4.23
4.60
1.44
1.49
2.21
2.76
4.00
8.78
11.73
0.70
1.43
3.39
2.98
1.75
8.79
8.26
305.31
311.21
2023
1.50
10.00
3.50
3.87
4.23
4.60
1.41
1.49
2.33
3.15
4.71
9.00
11.65
0.78
1.42
2.45
3.14
5.07
8.76
8.44
408.90
383.08
2024
1.50
10.00
3.50
3.87
4.23
4.60
1.48
1.44
3.02
3.80
5.18
8.83
11.68
0.83
1.52
3.84
4.48
5.46
8.19
8.36
402.45
404.53
2023 Jan-23
1.50
10.00
3.50
3.87
4.23
4.60
1.44
1.49
2.44
3.07
4.61
8.67
11.74
0.69
1.43
3.43
3.04
5.20
8.75
8.24
316.55
315.89
Feb-23
1.50
10.00
3.50
3.87
4.23
4.60
1.43
1.49
2.19
3.32
4.59
8.73
11.71
0.69
1.42
3.08
2.79
5.54
8.81
8.19
309.66
308.50
Mar-23
1.50
10.00
3.50
3.87
4.23
4.60
1.40
1.49
2.28
2.86
4.58
8.77
11.70
0.70
1.41
2.76
3.29
1.75
8.86
8.31
328.73
327.46
Apr-23
1.50
10.00
3.50
3.87
4.23
4.60
1.41
1.49
2.41
3.19
4.61
8.83
11.70
0.69
1.41
2.58
3.26
1.75
8.98
8.49
354.69
347.89
May-23
1.50
10.00
3.50
3.87
4.23
4.60
1.41
1.49
2.58
3.04
4.61
9.13
11.72
0.67
1.41
2.28
3.44
4.15
9.04
8.61
404.12
405.17
Jun-23
1.50
10.00
3.50
3.87
4.23
4.60
1.43
1.49
2.34
3.13
4.61
8.71
11.62
0.83
1.42
2.43
3.31
4.21
9.02
8.37
401.59
400.20
Jul-23
1.50
10.00
3.50
3.87
4.23
4.60
1.43
1.49
2.46
3.39
4.65
8.62
11.63
0.83
1.42
2.44
3.26
4.21
9.00
8.36
395.79
370.47
Aug-23
1.50
10.00
3.50
3.87
4.23
4.60
1.44
1.49
2.27
3.41
4.62
8.64
11.64
0.82
1.40
3.18
2.87
4.21
8.99
8.58
439.40
468.64
Sep-23
1.50
10.00
3.50
3.87
4.23
4.60
1.43
1.49
2.25
3.32
4.60
8.57
11.75
0.75
1.43
2.59
3.15
4.21
9.16
8.43
455.93
471.30
Oct-23
1.50
10.00
3.50
3.87
4.23
4.60
1.42
1.49
2.56
3.29
4.63
8.61
11.67
0.78
1.44
2.29
3.40
4.18
9.13
8.43
449.17
423.51
Nov-23
1.50
10.00
3.50
3.87
4.23
4.60
1.41
1.49
2.50
3.52
4.71
9.02
11.65
0.78
1.44
2.41
3.71
5.20
9.19
8.47
430.90
440.74
Dec-23
1.50
10.00
3.50
3.87
4.23
4.60
1.41
1.49
2.33
3.15
4.71
9.00
11.65
0.78
1.42
2.45
3.14
5.07
8.76
8.44
408.90
383.08
2024 Jan-24
1.50
10.00
3.50
3.87
4.23
4.60
1.39
1.49
2.42
3.19
4.89
9.03
11.64
0.78
1.41
2.81
4.35
5.23
8.75
8.44
381.90
344.80
Feb-24
1.50
10.00
3.50
3.87
4.23
4.60
1.42
1.49
2.46
2.89
4.88
9.04
11.71
0.79
1.41
3.01
4.19
5.51
8.76
8.45
466.96
459.42
Mar-24
1.50
10.00
3.50
3.87
4.23
4.60
1.41
1.49
2.33
2.88
4.93
9.01
11.75
0.78
1.43
2.86
4.76
5.53
8.56
8.47
440.92
445.55
Apr-24
1.50
10.00
3.50
3.87
4.23
4.60
1.41
1.48
2.30
3.10
4.93
8.92
11.76
0.78
1.44
3.96
2.89
5.63
8.63
8.49
438.86
409.97
May-24
1.50
10.00
3.50
3.87
4.23
4.60
1.41
1.48
2.23
3.29
4.94
9.00
11.43
0.79
1.43
3.89
3.36
5.76
8.49
8.10
383.72
434.78
Jun-24
1.50
10.00
3.50
3.87
4.23
4.60
1.41
1.48
2.11
3.33
4.96
9.00
11.17
0.88
1.44
3.04
3.46
5.77
8.45
8.54
431.72
423.97
Jul-24
1.50
10.00
3.50
3.87
4.23
4.60
1.41
1.48
2.30
3.37
4.96
8.99
11.17
0.89
1.43
2.97
3.59
5.77
8.47
8.69
421.33
426.92
Aug-24
1.50
10.00
3.50
3.87
4.23
4.60
1.40
1.48
2.37
2.86
4.99
8.98
11.20
0.89
1.44
3.45
3.46
5.77
8.41
8.71
429.99
435.36
Sep-24
1.50
10.00
3.50
3.87
4.23
4.60
1.40
1.48
2.61
2.63
5.05
8.87
11.74
0.79
1.44
3.40
3.65
5.77
8.40
8.67
455.58
447.17
Oct-24
1.50
10.00
3.50
3.87
4.23
4.60
1.41
1.44
2.73
2.59
5.11
8.89
11.68
0.81
1.48
3.37
4.41
5.78
8.40
8.56
430.82
408.25
Nov-24
1.50
10.00
3.50
3.87
4.23
4.60
1.49
1.44
2.86
3.81
5.15
8.91
11.69
0.82
1.50
3.35
4.47
5.37
8.18
8.52
404.98
395.23
Dec-24
1.50
10.00
3.50
3.87
4.23
4.60
1.48
1.44
3.02
3.80
5.18
8.83
11.68
0.83
1.52
3.84
4.48
5.46
8.19
8.36
402.45
404.53
Source: Maldives Monetary Authority
1/Treasury bills reverted to a TAP system from an auction system in 2014. The rates were revised in 2015 due to a change in government policy.
Note: Figures for November 2024 have been revised.