Turkish Eximbank cut interest rate by three points on exporter loan

An assembly of exporters said last week that exports fell by 27.9 percent in January plunging down to 7.5 billion USD.

Turkish Eximbank cut interest rate by three points on exporter loan

Eximbank in Turkey has cut interest rate by up to three points on loans it provides for exporters in a bid to compensate for plunging export figures due to shrinking demand abroad, country's foreign trade minister said.

"The bank cut down interest rate on loans in Turkish currency by up to 3 points on February 10, and the rate is now between 10-15 percent," Kursad Tuzmen told a meeting of the Turkish Eximbank on Wednesday.

An assembly of exporters said last week that exports fell by 27.9 percent in January plunging down to 7.5 billion USD.

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Last Mod: 11 Şubat 2009, 14:18
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