Turkish cenbank to supply limitless lira rediscount credit score funding -source

A brand of Turkey’s Central Financial institution is pictured on the entrance of its headquarters in Ankara, Turkey October 15, 2021. REUTERS/Cagla Gurdogan

ANKARA, July 6 (Reuters) – The Turkish central financial institution is able to supply limitless funding for lira rediscount credit prolonged to exporter corporations, a supply with data of central financial institution actions stated on Wednesday.

Turkish lira rediscount credit, whose rates of interest lowered and maturities prolonged not too long ago, are usually not prolonged to corporations who buy foreign exchange with cheaper loans, the supply stated.

The supply additionally stated at present 68% of all rediscount credit are prolonged to small- and medium-sized companies.

Final month, a central financial institution doc confirmed companies utilizing lira rediscount credit shall be supplied longer maturities and should decide to promoting at the very least 30% of their export proceeds to banks.

Reporting by Nevzat Devranoglu;
Writing by Ezgi Erkoyun;
Enhancing by Daren Butler

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