The exchange rates to be used as of 31.12.2021 in the valuation of foreign currencies that are not traded on the stock exchange have been announced.

With the Serial No. 536 General Communique on Tax Procedure Law published in the Official Gazette dated February 11, 2022, the exchange rates that should be taken into account in the valuation of foreign currencies that are not in the stock market and the receivables and payables with and without promissory notes in these currencies as of 31 December 2021 were announced.

Three of the most frequently used valuation rates are presented below and all of them in the table attached to our circular.

1 USD (US Dollar) 12.9775 TRY,
1 Euro: 14.6823 TRY,
1 British Pound: 17.4530 TRY.

Banks, on the other hand, are required to use the buying rates determined and actually applied in accordance with the principles determined by the Central Bank of Turkey, in their valuation transactions in terms of tax applications.