19.08.2025/20
Extension of the 3% Foreign Exchange Conversion Support Period
The Communiqué No. 2025/18, which amends the Communiqué on Supporting the Conversion of Foreign Exchange Obtained from Abroad into Turkish Lira (No. 2023/5), was published in the Official Gazette dated 1 August 2025 and numbered 32973.
As a result of this amendment, the implementation period of the foreign exchange conversion support, which had been increased from 2% to 3%, has been extended. In addition, the support for converting foreign exchange obtained from abroad into term deposit or participation accounts has been removed.
1. 3% Foreign Exchange Conversion Support
Article 4 of Communiqué No. 2023/5 regulates the provision of foreign exchange conversion support for the sale of foreign exchange obtained from abroad to the Central Bank through banks:
“Provided that the company undertakes not to purchase foreign exchange for a period determined by the Central Bank, a support amount equal to 2% of the amount converted into Turkish lira at the conversion rate shall be paid.”
This rate had been temporarily increased to 3% under Provisional Article 1 of the Communiqué. With the recent amendment, the 3% support rate will remain in effect until 31 October 2025.
According to the Implementation Guidelines published by the Central Bank on 1 January 2025, the commitment period is defined as one month.
2. Termination of Support for Conversion into Term Deposit or Participation Accounts
Article 5 of Communiqué No. 2023/5 previously allowed for the conversion of the remaining portion of foreign exchange (after the mandatory sale to the Central Bank) into Turkish lira term deposit or participation accounts, with a 2% support provided under certain conditions.
According to the amendment, this support has been discontinued.
You may access the updated version of Communiqué No. 2023/5 here.
You may access the CBRT Implementation Guidelines here.
Best Regards,
BİLGENER
