The Central Bank of the Republic of Turkiye imposed an upper limit on the total interest cost in export and foreign exchange earning services rediscount loans and kept the discount rate constant at a maximum of 25.93%.
An upper limit was imposed on the total interest cost of rediscount loans for export and foreign exchange earning services.
According to the announcement made by the Central Bank of the Republic of Turkiye (CBRT), the discount rate in export and foreign exchange earning services rediscount loans was kept constant at a maximum of 25.93%.
With the updates made to the daily usage limit of export and foreign exchange earning services rediscount credit on July 21, 2023 and September 12, 2023, the daily limits were increased by a total of 10 times compared to the previous level, reaching ₺3 billion. In addition, the 30% additional export price sales condition for the use of rediscount credit was abolished, and foreign exchange purchases within the scope of import payments were excluded from the commitment not to purchase foreign currency during the rediscount credit term.
With the regulation, CBRT continues to support exporting companies’ access to finance and financing conditions.
Source: Trthaber / Prepared by Irem Yildiz