New Era in Foreign Currency Conversion Support: From Commitment-Based Rules to Foreign Currency Position Limits

Communiqué No. 2026/11, published in the Official Gazette dated August 1, 2026 and numbered 33327, introduced a significant structural change to the support scheme for converting companies’ foreign-sourced foreign currency into Turkish lira. The regulation both extends the support period and fundamentally changes how the scheme operates.

The basic support rate remains at 2%. The increased rate of 3%, applied under the temporary article, has been extended from July 31, 2026 to January 31, 2027.

Accordingly, companies that meet the relevant conditions will continue to benefit from support equal to 3% of the Turkish lira equivalent, calculated using the conversion rate applicable to the foreign-sourced foreign currency sold to the Central Bank of the Republic of Türkiye.

The most significant aspect of the amendment lies in the underlying logic of the system.

Under the previous framework, companies that sold their foreign currency to the Central Bank and received support were required to undertake not to purchase foreign currency for a certain period. If this commitment was breached, the support received could be recovered together with rediscount interest, and the company’s access to Central Bank-funded loans could be restricted.

For exporters in particular, this structure could create a constraint that interfered with commercial operations.

Under the new regulation, the strict prohibition on purchasing foreign currency is replaced by a limit based on the company’s foreign currency position ratio, taking the company’s financial balance into account.

As a result, companies gain greater flexibility in their financial transactions, provided they remain within the prescribed position limits.

The logic of sanctions is also changing: the system is evolving from commitment-based bureaucracy toward a model based on a balance between incentives and strict supervision.

There is an important distinction that companies should not overlook.

The provision extending the 3% support rate entered into force as of August 1, 2026.

However, the other technical amendments, including the transition to a foreign currency position-based system, are scheduled to enter into force on October 1, 2026.

The limits and calculation principles regarding the foreign currency position ratio will be determined separately by the Central Bank.

This regulation brings both an opportunity and a new compliance process, particularly for companies with foreign-sourced foreign currency income and for exporters.

Maintaining the support rate is positive. However, the transition from a commitment-based system to a position-based system may require companies to reassess their foreign currency management and financial planning processes.

Assessing the potential impact of the technical restrictions that will enter into force on October 1 on your company in advance may help prevent possible compliance issues.