The Turkish President has issued Decree No. 85 amending Decree No. 32.
The Presidential Decree prohibits payments made in a foreign currency where both parties to the relevant contract are resident in Turkey. The Decree also appears to require Turkish parties in existing contractual relationships to re-designate payments in any foreign currency to the Turkish Lira. Although the Decree specifies that there may be exceptions to these requirements, no clarifications have yet been issued.
