Since 3 January 2022, at least 40% of export proceeds required to be repatriated had to be sold to the Central Bank of the Republic of Türkiye.
As is known, since 3 January 2022 at least 40% of export proceeds required to be repatriated had to be sold to the Central Bank of the Republic of Türkiye.
Under the amendment made to the Export Circular on 7 June 2024, effective from 10 June 2024, the ratio has been reduced from 40% to 30%.
Accordingly, from 10 June 2024 at least 30% of the export proceeds converted into an export proceeds acceptance document or a foreign exchange purchase document must be sold to the bank issuing that document.
In addition, the following wording has been added to TEMPORARY ARTICLE 1 on the acceptance in Turkish lira of export proceeds declared in foreign currency: in relation to export transactions carried out or to be carried out to Ukraine and Russia, export proceeds may be accepted in Turkish lira even if they have been declared in foreign currency.