Rediscount and Advance Interest Rates

Rediscount and Advance Interest Rates

In order to the meet the temporary liquidity needs of the banking sector, the CBRT accepts commercial papers and certificates provided by banks for discount. The types of commercial papers that can be accepted for discount and other conditions are determined by the CBRT.

The interest rate that the CBRT applies to these transactions is called the discount rate. The CBRT may also give advance to commercial paper that is accepted for discount. The discount rate that is determined in view of the monetary supply and credit extension in the economy has lost its significance as a monetary policy instrument under the current monetary policy framework.

Date Discount
Rate (%)
Advance
Rate (%)
01.01.1990 40 45
20.09.1990 43 48,25
23.11.1990 45 50,75
15.02.1991 48 54,50
27.01.1994 56 65
21.04.1994 79 98
12.07.1994 70 85
27.07.1994 63 75
01.10.1994 55 64
10.06.1995 52 60
01.08.1995 50 57
02.08.1997 67 80
30.12.1999 60 70
17.05.2002 55 64
14.06.2003 50 57
08.10.2003 43 48
15.06.2004 38 42
13.01.2005 32 35
25.05.2005 28 30
20.12.2005 23 25
20.12.2006 27 29
28.12.2007 25 27
09.04.2009 19 20
12.06.2009 18 19
22.12.2009 15 16
30.12.2010 14 15
29.12.2011 17 17,75
19.06.2012 16 16,50
20.12.2012 13,50 13,75
21.06.2013 9,50 11
27.12.2013 10,25 11,75
14.12.2014 9 10,50
31.12.2016 8,75  9,75

 


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