Turkey’s Central Bank has updated discount interest rates for commercial papers with expiry periods of three months or more. The revised rates are 8.75% for rediscount transactions and 9.75% for advance transactions.

The interest rates were announced in Communiqué of the Central Bank of the Turkish Republic, published in Official Gazette number 29935 on 31 December 2016, entering into effect on the same date.

Please see this link for the full text of the Communiqué (only available in Turkish).