I. Introduction
The Communiqué No. 2025-32/72 ("Amendment Communiqué"), prepared to amend the Communiqué on Decree No. 32 on the Protection of the Value of Turkish Currency (Communiqué No. 2008-32/34) ("Communiqué"), was published in the Official Gazette No. 32833 on 06.03.2025 and has entered into force.
You can access the full Turkish text of the Communiqué, including the latest amendments, here.
II. Amendment
Prior to the amendment, Article 8, Paragraph 9 of the Communiqué stipulated that while it was permissible for residents in Turkey to agree on contract prices and other payment obligations in foreign currency or indexed to foreign currency in movable sales contracts other than vehicle sales, the actual execution of such payments in foreign currency was prohibited. In other words, while the contract could be concluded in foreign currency, except for certain exceptional cases listed in the Communiqué, the payment had to be made in Turkish Lira, corresponding to the foreign currency-denominated amount.
With the Amendment Communiqué, this provision has been revised, leaving only the first sentence of the paragraph intact. Accordingly, the prohibition on foreign currency payments in contracts concluded in foreign currency or indexed to foreign currency, except for vehicle sales, has been lifted.
III. Conclusion
As a result of the Amendment Communiqué, residents in Turkey are now allowed to freely determine and execute the payment obligations of sales contracts concerning movable property—excluding vehicle sales—in foreign currency or indexed to foreign currency, without exception. This amendment eliminates the uncertainties and disputes that previously arose between parties concerning exchange rate determination in movable sales transactions.
Originally published 10 March 2025
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