CENTRAL BANK OF THE REPUBLIC OF TÜRKİYE

EXPORT CIRCULAR and INVISIBLE
TRANSACTIONS CIRCULAR WITHIN THE SCOPE OF
CENTRAL BANK OF THE REPUBLIC OF TÜRKİYE
FOREIGN EXCHANGE SALE TO BE MADE TO THE BANK
IMPLEMENTATION INSTRUCTION REGARDING

GENERAL DIRECTORATE OF TREASURY AND CORPORATE OPERATIONS

1 October 2026

Implementation Instruction Regarding Foreign Exchange Sales to be Made to the Central Bank of the Republic of Türkiye Within the Scope of the Export Circular and the Invisible Transactions Circular

Purpose and scope

ARTICLE 1- (1) (Amended: 18/4/2022-1/8/2025-18/5/2026) The purpose of this Implementation Instruction is to regulate the implementation details of foreign exchange sale transactions to be made to the Central Bank within the scope of the Export Circular dated 16 January 2020 and the Invisible Transactions Circular dated 18 May 2026.

Legal basis

ARTICLE 2- (1) (Amended: 18/4/2022-1/8/2025-18/5/2026) This Implementation Instruction has been prepared based on the additional and provisional articles of the Export Circular published pursuant to the first paragraph of Article 12 of the Communiqué on Decree No. 32 on the Protection of the Value of Turkish Currency (On Export Proceeds) (Communiqué No: 2018-32/48) regarding the sale of export proceeds to the Central Bank, and on Article 41 of the Central Bank of the Republic of Türkiye Law dated 14/1/1970 and numbered 1211, and on Article 5 titled “Foreign exchange earning transactions” of the Invisible Transactions Circular published pursuant to Article 10 of Decree No. 32 on the Protection of the Value of Turkish Currency put into effect by the Council of Ministers Decision dated 7/8/1989 and numbered 89/14391.

Definitions and abbreviations

ARTICLE 3- (1) In this Implementation Instruction;

a) (Amended: 1/8/2025) Bank: banks defined in Article 3 of the Banking Law dated 19/10/2005 and numbered 5411, which carry out the transactions in additional Article 3 of the Export Circular and issue an Export Proceeds Acceptance Certificate or a Foreign Exchange Purchase Certificate,

b) DAB: Foreign Exchange Purchase Certificate,

c) (Amended: 18/4/2022-18/5/2026) (Repealed.)

ç) (Amended: 18/4/2022) Service invoice: invoices relating to foreign exchange amounts obtained in return for foreign exchange earning services provided to non-residents abroad,

d) İBKB: Export Proceeds Acceptance Certificate,

e) Export Circular: Export Circular dated 16 January 2020,

f) (Amended: 18/4/2022-1/10/2026) Transaction Rate: the foreign exchange buying rate announced by the Central Bank at 11.00 on the day on which the export proceeds foreign exchange linked to the İBKB or DAB or the foreign exchange earning service fee foreign exchange documented by a service invoice is converted into Turkish lira,

g) Central Bank: Central Bank of the Republic of Türkiye,

means.

Sale of export and foreign exchange earning service fee foreign exchange to the Central Bank

ARTICLE 4- (1) (Amended: 18/4/2022-10/6/2024-3/3/2025-18/5/2026) According to the Export Circular, at least the current rate specified in the Export Circular of the export proceeds foreign exchange linked to the İBKB or DAB is sold to the bank issuing the İBKB or DAB, to be sold to the Central Bank at the transaction rate on the date on which the İBKB or DAB was issued.

(2) (Amended: 18/4/2022-10/6/2024-3/3/2025-5/5/2025-18/5/2026) In the event that foreign exchange earning service fee foreign exchange is sold within the scope of the Invisible Transactions Circular, at least the current rate specified in the Invisible Transactions Circular of this foreign exchange is sold by the bank to the Central Bank on the same day at the transaction rate announced by the Central Bank and applicable on the transaction date. During the sale transaction, the relevant service invoices showing that the foreign exchange subject to sale was obtained from foreign exchange earning services, or, if the number of such invoices is too high, invoice listings, are documented to the intermediary bank.

(3) (Amended: 1/10/2026) Accounts in US dollars, Euro and British pound sterling are opened at the Bank in the name of the Central Bank, and the foreign exchanges purchased by the bank within the scope of this Implementation Instruction are notified to the Central Bank by 16.00 on full business days and by 12.30 on half business days and transferred collectively to the said accounts.

(4) Documents such as receipts, statements and similar documents and information relating to the foreign exchanges transferred to the Central Bank’s account, and information relating to the amounts for which foreign exchange purchases are made, are notified by banks to the Central Bank electronically on the same day in accordance with the notification form in Annex-1.

(5) The foreign exchanges transferred by the bank to the Central Bank’s account are purchased by the Central Bank at the transaction rate.

(6) Turkish lira amounts corresponding to foreign exchange purchase transactions are sent by the Central Bank to the bank’s EFT center without charge. For transactions that cannot be concluded by 17.30, the Turkish lira amounts are transferred to the bank’s required reserve account at the Central Bank.

(7) (Amended: 18/4/2022-1/10/2026) In foreign exchange transfers to be sent by the bank to its own correspondent relating to foreign exchange amounts to be transferred to the Central Bank with one day’s value within the scope of this Implementation Instruction; in the End To End Identification field of the pacs009 message “CIRCULAR”, in the Instruction For Creditor Agent-Instruction Information field “/BNF/ BANKA ADI CIRCULAR”, in the Creditor Account-Identification-IBAN field the IBAN information relating to the account to be notified by the Central Bank for the said transactions, and in the Creditor-Financial Institution Identification-BICFI field “TCMBTR2A” explanations are written.

(8) (Amended: 1/10/2026) All expenses relating to foreign exchange transfers made by the bank are paid by the Central Bank in Turkish lira, based on the camt.106 message sent collectively by the bank monthly, at the foreign exchange buying rate announced by the Central Bank at 11.00 on the payment day, until the last business day of the following month.

Foreign exchange types subject to transaction

ARTICLE 5- (1) (Amended: 18/4/2022) The transactions to be carried out within the scope of this Implementation Instruction are limited to the foreign exchange types subject to purchase and sale by the Central Bank.

(2) (Amended: 18/4/2022) The foreign exchange types to be sold to the Central Bank by banks are US dollars, Euro and British pound sterling. In transactions made in other foreign exchange types, the said foreign exchange amounts are converted by the bank into US dollars, Euro or British pound sterling and sold to the Central Bank.

Other provisions

ARTICLE 6- (1) The control that all kinds of transactions to be carried out within the scope of this Implementation Instruction are carried out in accordance with national and international standards regarding the prevention of money laundering and financing of terrorism is performed by banks.

(2) If the Bank detects that these standards are violated in the transactions carried out within the scope of this Implementation Instruction, it immediately reports the situation to the Central Bank.

PROVISIONAL ARTICLE 1- (1) (Amended: 5/5/2025-18/5/2026) (Repealed.)

PROVISIONAL ARTICLE 2- (1) (Amended: 1/8/2025-18/5/2026) (Repealed.)

PROVISIONAL ARTICLE 3- (1) (Amended: 1/11/2025-18/5/2026) (Repealed.)

PROVISIONAL ARTICLE 4- (1) (Amended: 1/5/2026-18/5/2026) (Repealed.)

Entry into Force

ARTICLE 7- (1) This Implementation Instruction enters into force on 03.01.2022.

Execution

ARTICLE 8- (1) The Governor of the Central Bank of the Republic of Turkey executes this Implementation Instruction.

ANNEX:

1- Form Regarding the Sale of Export Proceeds to the Central Bank (Annex 1)

Contact Information : General Directorate of Treasury and Corporate Operations E-Mail : dkiihracat@tcmb.gov.tr

Date of Publication of the Instruction
03.01.2022
Date of Amendment to the Instruction
18.04.2022
10.06.2024
03.03.2025
05.05.2025
01.08.2025
01.11.2025
01.05.2026
18.05.2026

ANNEX 1	FORM REGARDING THE SALE OF 25% OF EXPORT PROCEEDS TO THE CENTRAL BANK
BANK NAME:
CURRENCY TYPE:
		TRANSACTION INFORMATION
COMPANY NAME	COMPANY TIN	DAB ISSUANCE DATE	FOREIGN EXCHANGE AMOUNT (A)	EXCHANGE RATE (B)	TRY AMOUNT (C=A*B)	TRANSACTION TYPE EXPORT(E) / SERVICE(S)	İBKB/DAB AMOUNT
TOTAL:		FOREIGN EXCHANGE ÖNİ	NUMBER OF COMPANIES	0
TOTAL:		TRY
Average Rate

[NOT-1] THE FORM SHALL BE FILLED OUT SEPARATELY FOR EACH CURRENCY TYPE.

[NOT-2] WEIGHTED AVERAGE EXCHANGE RATE SHALL BE USED.