08.02.2023/29
Exchange Rates to Be Used for Currency Valuations at the End of 2022
According to Article 280 of the Tax Procedure Law (VUK) No. 213, foreign currencies will be valued at the stock exchange rate, and if a foreign currency does not have an exchange rate in the stock market, the exchange rate to be used for valuation will be determined by the Ministry of Treasury and Finance. This provision also applies to receivables and payables expressed in foreign currency, both negotiable and non-negotiable.
Based on this provision, the exchange rates to be used for valuation at the end of 2022 have been determined by the Ministry of Treasury and Finance with General Communique No. 548 of the VUK. Accordingly, the exchange rates listed in the first section of the list will be applied for the valuation of foreign currencies in bank accounts, as well as receivables and payables in foreign currency. For foreign currencies in the form of banknotes in the cash register, the exchange rates for foreign currency notes (effective rates) should be applied.
The exchange rates to be used for frequently traded foreign currencies are listed below:
| CURRENCY TYPE | (I) EXCHANGE BUYING | (II) EFFECTIVE BUYING |
| 1 US Dollar | 18.6983 | 18.6852 |
| 1 Australian Dollar | 12.6670 | 12.6088 |
| 1 Danish Krone | 2.6766 | 2.6747 |
| 1 Euro | 19.9349 | 19.9209 |
| 1 British Pound | 22.4892 | 22.4735 |
| 1 Swedish Krona | 1.7837 | 1.7825 |
| 1 Swiss Franc | 20.2019 | 20.1716 |
| 100 Japanese Yen | 14.1301 | 14.0778 |
| 1 Canadian Dollar | 13.7896 | 13.7386 |
| 1 Kuwaiti Dinar | 60.7537 | 59.8424 |
| 1 Norwegian Krone | 1.8900 | 1.8886 |
| 1 Saudi Riyal | 4.9717 | 4.9344 |
For other foreign currencies, the list in the annex of the Communique should be referred to.
You can access General Communique No. 548 and its annex here.
Kind regards,
BİLGENER
