The rules for the foreign currency conversion support paid to exporters who convert foreign currency earned abroad into Turkish lira have been reset by the Central Bank's new Implementing Instruction. The new instruction entered into force on 01.10.2026 and replaces the instruction applied since 2023.

1. Who can benefit from the support?

Companies that sell to the Central Bank, through an intermediary bank, foreign-source currency earned from exports of goods, foreign-exchange-earning services (including service exports) and sales abroad from free zones can benefit from the support. The support applies to sales of US dollars, euros and pounds sterling.

2. Support rate and calculation

The support is calculated at the rate set in Communiqué No. 2023/5 on the Turkish lira equivalent of the currency sold to the Central Bank, using the buying rate announced at 11:00 on the day of sale. The support rate was applied as 3% until 31.07.2026; we recommend confirming the rate valid on the sale date with the intermediary bank.

3. Main conditions and limits under the new instruction

• Companies whose foreign currency position ratio exceeds 10% cannot benefit from the support. The position declaration form prepared by a certified public accountant (SMMM) or sworn financial adviser (YMM) is valid for 15 days.
• The maximum annual support per company is TRY 100 million. The Central Bank sets a company-specific sales limit based on operating profit and labour costs over the last 12 months, and this limit is updated in January and July.
• For the period 01.10.2026 – 31.12.2026, the sales limit and maximum support are applied with a coefficient of 0.25; the maximum support in this period is TRY 25 million.
• For sales that qualify as export advances, the customs declaration and position form must be submitted to the bank within six months; payment is made once the documents are complete.
• The intermediary bank may charge a commission of up to 1% of the support paid.

4. Sanctions

In the case of a false declaration or use of the support for purposes other than intended, the support is recovered together with the interest and taxes specified in the instruction, and the company may be barred for a certain period from the support and from Central Bank-sourced loans.

5. Assessment

We recommend that companies converting foreign currency income into Turkish lira, including service exporters, keep their position form up to date and plan currency sales with the reduced limits for the last quarter of the year in mind. The accounting treatment and tax nature of the support should be reviewed with your financial adviser.

This circular is for general information only. Please contact us about your specific situation. The Turkish original is available here.

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