Monday 08, October 2018 by Kudakwashe

Turkey announces exemptions to forex contracts ban

 

The exemptions will also cover sales of software produced abroad, ship leasing contracts and contracts involving state institutions.

Turkey has announced exemptions to its ban on the use of foreign currencies in business agreements, including export-related contracts, capital market instruments and employment contracts involving foreigners, reported Reuters.

The move follows the Government’s announcement last month that property sales, leasing transactions and rent contracts must be in lira, halting the use of foreign currencies for such deals to support the lira, which has lost more than 38 per cent of its value against the green back this year.

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