Central Bank extends foreign currency conversion support until the end of October

The Central Bank of the Republic of Turkey (TCMB) has extended the duration of the support mechanism provided to companies that convert foreign currency brought from abroad into Turkish Lira. This decision was published in the Official Gazette dated August 1, 2025, and has entered into force.

The application period, which was previously set as July 31, 2025, has been extended until October 31, 2025, with the new regulation. With this step, the TCMB aims to bring foreign currency from abroad into the domestic market and support financial stability.

Within the scope of the program, companies that convert foreign currency brought from abroad into TL and sell it to the Central Bank will be able to receive conversion support under certain conditions. In this practice, which will be carried out through banks defined within the framework of the Banking Law, companies will be able to receive support of up to 3 percent of the converted amount by committing not to purchase foreign currency.

News Source: 12punto