Amendment to the Communiqué on Decree No. 32 on the Protection of the Value of the Turkish Currency

Under the Communiqué on Decree No. 32 on the Protection of the Value of the Turkish Currency (Communiqué No: 2008-32/34) published in the Official Gazette dated August 28, 2008 and numbered 26801, a regulation that entered into force on April 19, 2022, prohibited payment obligations in foreign currency for sales of goods agreements concluded between Turkish residents, except for vehicle sales agreements. Pursuant to the amendment introduced on February 28, 2024, certain provisions governing the implementation of this restriction were revised, allowing foreign currency payments in specific cases. However, the restriction on sales of goods agreements remained in effect. Subsequently, with the amendment introduced by the Ministry of Treasury and Finance, published in the Official Gazette dated March 6, 2025, and numbered 32833 (Communiqué No: 2025-32/72), this restriction has been entirely repealed. Accordingly, as of March 6, 2025, Turkish residents may determine the contract price and other payment obligations arising from sales of goods agreements, excluding vehicle sales agreements, in foreign currency or indexed to foreign currency.