The Effect Of Currency Exchange On Contracts

Due to the significant political and economic developments in the world, there are sudden and hard changes in exchange rates in the recent period. As the social and economical effects that experienced in Turkey, there is no doubt that there will be more results from legal perspective regarding the increasing exchange rates,

Namely; the fluctuations and changes experienced for the parties signing the agreements in which the foreign exchange is included give rise to short and long term consequences and it is very difficult for one party to survive the contracted conditions in the face of the increasing exchange rate. The Code of Obligations aims to protect the contractual parties against such negative changes, and offers the possibility of adapting the contract to changing circumstances.