07March2025

Significant Amendments Made to the Decree No. 32 on the Protection of the Value of Turkish Currency

On March 6, 2025, the Communique on the Amendment to the Communique on the Decree No. 32 on the Protection of the Value of Turkish Currency ("Communique") was published in the Official Gazette No. 32833.

According to the Communique, the ninth paragraph of Article 8 of the Communique on the Decree No. 32 on the Protection of the Value of Turkish Currency, published in the Official Gazette No. 26801 dated February 28, 2008 ("Decree No. 32"), has been amended as follows. Accordingly, the relevant article has been adopted as:

"It is possible for persons residing in Turkey to determine the contract price and other payment obligations arising from these contracts in foreign currency or indexed to foreign currency in movable property sales contracts, except for vehicle sales contracts, concluded among themselves."

With the amendment, the provision stating "However, except for the cases specified below, payment obligations related to these contracts must be fulfilled and accepted in Turkish currency:" along with the listed exceptions has been removed from the relevant article.

Thus, in movable property sales contracts, except for vehicle sales contracts, the parties are now.

You can access the relevant law here. (In Turkish)

Author Taylan Ege Günel, Category Law on Protection of the Value of Turkish Currency

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