Residents in Turkey Cannot Be Indexed To Foreign Currency Contract

The Presidential Decree No. 85, which prohibits that the residents in Turkey shall not determine on foreign currency or as indexed foreign currency debt payments on contracts excepting cases which is determined by the Ministry of Treasury and Finance, was published in the official newspaper today.

According to the same decision, within 30 days from today, the prices which is previously agreed and determined in foreign currency in the contracts in force, except as determined by the Ministry of Treasury and Finance, It should be re-determined by the parties as Turkish currency.