The Communiqué on the determination of the interest rates to be applied in rediscount and advance transactions (“Communiqué”) issued by the Central Bank of the Republic of Türkiye (“CBRT”), has been published in the Official Gazette, dated 1 April 2024 and numbered 32507. It entered into force upon its publication date.

Pursuant to the Communiqué, the discount interest rate to be applied in rediscount transactions against bills with a maturity of up to three months was raised from 43.25% to 50.75% per annum, while the interest rate to be applied in advance transactions was raised from 44.25% to 51.75% per annum.

The full text of the Communiqué can be reached via this link. (Only available in Turkish)