Amending the Communiqué No. 32 on the Protection of the Value of Turkish Currency Communiqué No. 2022-32/66 Entered into Force

Yayınlanma Tarihi: 20 Nisan 2022

The prominent changes about the contract creation process were made with the Communiqué No: 2018-32/52 in 2018 about the application of Decree No. 32 Regarding the Protection of the Value of the Turkish Currency (Communiqué No: 2008-32/34). In this previous Communiqué, restrictions about the foreign currency contracts entered into action.

Residents in Turkey were and are still allowed to decide on the prices with foreign currency or indexed to foreign currency in the contracts regarding the sale of goods/movables among themselves (except the sale contracts of vehicles). However, with the Communiqué No. 2022-32/66 which entered into force on 19 April 2022, it has become obligatory to fulfill and accept the contractual payment obligations in Turkish currency regarding these contracts.

If one of the contracting parties is a public institution or Turkish Armed Forces Foundation company, it has become possible to decide, accept and pay the contract price and other payment obligations in foreign currency or indexed to foreign currency regarding their contracts (except real estate sale or rental contracts).