The Central Bank of the Republic of Türkiye introduced new interest rates to be applied in rediscount and advance transactions.
With the Communiqué published in the Official Gazette dated 1 November 2023 and numbered 32356 (“Communiqué”), the Central Bank of the Republic of Türkiye (“CBRT”) regulated the interest rates to be applied in rediscount and advance transactions.
As of 1 November 2023, the important headings in the Communiqué are as follows:
- The Central Bank of the Republic of Türkiye has set new rates for rediscount and advance transactions for promissory notes with a maturity of up to 3 months.
- The discount interest rate applicable to rediscount transactions has been set at an annual rate of 35.75%.
- The interest rate applicable to advance transactions has been determined at an annual rate of 36.75%.
You can access the Communiqué in Turkish through this link.
