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ARTICLE · 11 MARCH 2024

New Era In Foreign Exchange ("FX") Payment Ban: Exceptions For Foreign Trade Contracts!

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The Communiqué No. 32/34 on the Decree No. 32 on the Protection of the Value of the Turkish Currency ("Communiqué") is amended by the Ministry of Treasury and Finance ("Ministry") through the Official

TurkeyInternational Law
Cenk Civan
Cenk Civan
Ezgi Saba Varol
Ezgi Saba Varol
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The Communiqué No. 32/34 on the Decree No. 32 on the Protection of the Value of the Turkish Currency ("Communiqué") is amended by the Ministry of Treasury and Finance ("Ministry") through the Official Gazette dated February 28, 2024, and numbered 32474, regarding the new FX payment exceptions for movable sales contracts. Prior to the amendment to the Communiqué, movable sales contracts (except vehicle sales contracts) to be executed between residents in Türkiye could be fulfilled denominated in FX or indexed to FX, whereas payments in these contracts must be paid in Turkish Lira. With the amendment, payment in FX is now allowed for certain contracts.

Exceptions For Payment in FX

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