CBRT will support companies that convert their foreign currency originating abroad into TL

Turkey’s Central Bank (CB) will provide conversion support from foreign currency to TL to companies that sell foreign currency obtained from abroad to CB. In the statement made by the CB at night, reference was made to this year’s monetary policy and lira strategy. It was stated that it had been decided to provide support to the conversion of foreign currencies of companies to lira in order to support lira conversion in commercial life.

In this context, during the sale of companies’ external resources currencies to the MB, conversion support of up to 2 percent of the amount converted to TL will be provided in exchange for the commitment not to receive foreign currency during the period determined by the MB.

In addition, banks that sell at least 40 percent of the foreign currency they bring to MB will still be able to benefit from the same support if they commit to putting the foreign currency not sold to MB into a currency-protected conversion account and not buying more foreign currency than they sell during the period determined by MB.