The Central Bank of the Republic of Turkiye increases rediscount interest rates

The Central Bank of the Republic of Turkey (CBRT) increased the discount and advance interest rates to be applied in rediscount transactions by 500 basis points.

CBRT's Communiqué on the subject was published in the Official Gazette.

According to the communiqué, the discount interest rate to be applied in rediscount transactions against bills with a maximum of 3 months remaining until maturity was determined as 30.75 percent annually, and the interest rate to be applied in advance transactions was determined as 31.75 percent annually.

Since September 1, 2023, the rate has been applied as 25.75 percent in rediscount transactions and 26.75 percent in advance transactions.

Interest rates come into effect starting from today.