Turkey Relaxes Ban on Foreign Currencies for Business Agreements

[kreslik.news]

Turkey is relaxing its ban on using foreign currencies, with the country announcing exemptions for business agreements, which includes export-related contracts, capital market instruments and employment contracts that involve foreigners.

On Saturday, the Official Gazette announced that the exemptions would also apply to areas such as sales of software made abroad, ship leasing contracts and contracts involving state institutions. However, this is only if they are not related to property or employment.

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Back in September, Turkey’s government said that property sales, leasing transactions and rent contracts must be in Turkish lira (TRY), stopping ... (read more)