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INTEREST RATES TO BE APPLIED IN REDISCOUNT AND ADVANCE TRANSACTIONS HAVE BEEN CHANGED



With the Communiqué ("Communiqué") published by the Central Bank of the Republic of Turkey in the Official Gazette dated 01.09.2023 and numbered 32296, the discount interest rate applied to rediscount transactions for bills with a maximum of 3 months to maturity and the interest rate to be applied to advance transactions have been updated.


With the Communiqué, the annual discount interest rate applicable to rediscount transactions for bills with a maximum of 3 months to maturity has been increased from 15.75% to 25.75% and the annual interest rate applicable to advance transactions has been increased from 16.75% to 26.75%.


According to the previous Communiqué, which entered into force on 24.06.2023, the discount interest rate applicable to rediscount transactions for bills with a maximum of 3 months to maturity was set at 15.75% and the interest rate applicable to advance transactions was set at 16.75%.


The Communiqué entered into force on 01.09.2023, the date of its publication in the Official Gazette.


You can access the Communiqué from this link (in Turkish).

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