Reinforcement to the company that sells its foreign currency to the CBRT

Within the scope of the 2023 Monetary Policy and Liraization Strategy, the Central Bank of the Republic of Turkey decided to provide a basis for the conversion of foreign-sourced foreign currency of companies into Turkish lira in order to support liraization in commercial life.

According to the statement made by the Central Bank of the Republic of Turkey (CBRT), companies will be able to receive a FX conversion supplement of 2% of the price converted into Turkish lira, in return for the commitment they will make during the sale of foreign-origin foreign currencies of companies to the CBRT.

After the companies sell at least 40 percent of the foreign currency they bring to the country to the CBRT, they will be able to use the remaining part of the foreign currency in the currency-conserved conversion account and receive a foreign currency conversion basis of 2 percent of the amount converted into Turkish lira in return for their commitment.

Banks will determine that the foreign currency to be sold to the CBRT and the foreign currency to be converted into Turkish lira time deposit and participation accounts are of foreign origin.