Press Release on Rediscount Credits for Export and FX Earning Services (2023-47)
No: 2023-47
23 November 2023
Press Release on Rediscount Credits for Export and FX Earning Services
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A cap is set for the total interest cost of rediscount credits for export and foreign exchange earning services. |
The maximum discount rate for rediscount credits for export and foreign exchange earning services is kept constant at 25.93%.
With its revisions on 21 July 2023 and 12 September 2023, the CBRT raised the daily limits for rediscount credits for export and foreign exchange earning services by a total of tenfold increase from the previous level to TRY 3 billion.
Moreover, the condition of selling an additional 30% of export proceeds for rediscount credit utilization was abolished and foreign currency purchases for import payments were exempted from the commitment not to buy foreign currency during the rediscount credit term.
With this arrangement, the CBRT continues to support exporters' access to finance and financing conditions.
Contact
For further information, please send an e-mail to basin@tcmb.gov.tr.