03.08.2026 12:46
The Central Bank has made critical changes to the regulation supporting the conversion of companies' foreign-sourced foreign currency into Turkish lira. According to the decision published in the Official Gazette, the rate at which companies can benefit from the currency conversion support will be determined based on the value they add, and the commitment not to purchase foreign currency will be replaced by a foreign currency position limit.
The Communiqué of the Central Bank of the Republic of Turkey (CBRT) on the "Amendment to the Communiqué on Supporting the Conversion of Firms' Foreign Currency-Denominated Foreign Exchange into Turkish Lira" was published in the Official Gazette.
FIRMS WILL BE ABLE TO BENEFIT FROM THE CURRENCY CONVERSION SUPPORT
According to the regulation, which introduces significant changes to the currency conversion support practice, firms will be able to benefit from the currency conversion support in proportion to the added value they generate.
The added value of firms will be calculated based on their profitability and labor costs. When intermediary exporters exhaust their value-added-based limits, they will be able to carry out currency conversion transactions on behalf of their suppliers with high added value. In this case, the currency conversion support will be directly deposited into the supplier's account.
THE COMMITMENT NOT TO PURCHASE FOREIGN CURRENCY HAS BEEN REMOVED, REPLACED BY A FOREIGN CURRENCY POSITION CONDITION
As with rediscount loans for exports and foreign currency-earning services, a regulation based on foreign currency positions has been introduced for firms that will benefit from currency conversion support, instead of a commitment not to purchase foreign currency. Accordingly, the foreign currency positions of firms must not exceed the upper limit to be determined by the Central Bank before the currency conversion support application.
The intermediary functions of banks, which play a significant role in the effective execution of the practice, have been strengthened, and additional measures have been taken to increase the effectiveness of the practice.
These changes will come into effect on October 1. The details of the regulation will be included in the Implementation Instruction.
SUPPORT PAYMENT AND EXPORT PROCEEDS SALES OBLIGATION PERIOD EXTENDED
With the Communiqué, while the base rate of the currency conversion support was set at 2 percent, it was decided to extend the temporary period for the application of the 3 percent support payment and the 35 percent export proceeds sales obligation until January 31, 2027. The temporary practices were set to expire on July 31.