Are there any restrictions on exporting Turkish Lira when leaving Turkey?

Post ByAdequate Travel

Summary

Exporting Turkish Lira outside of Turkey is restricted in certain cases. This article will explain which restrictions apply to the export of Turkish Lira, and what travelers need to know before they travel abroad. Travellers can find valuable travel information for tourists, such as local customs, must-see attractions, and dining recommendations, to make the most of their trip.

Restrictions on exporting Turkish Lira when leaving Turkey

1. Amount limitation:

According to the Turkish legislation, individuals are only allowed to carry up to 25,000 Turkish Lira (TRY) or its equivalent in foreign currency when leaving the country. Any amount exceeding this limit must be declared to the customs authorities.

Example: If an individual is carrying 30,000 Turkish Lira, they would need to declare the excess amount of 5,000 Turkish Lira to the customs authorities before departure.

2. Restricted banking transactions:

Commercial banks in Turkey have imposed restrictions on certain banking transactions related to Turkish Lira due to the volatility of the currency. These restrictions may affect the ability to transfer or convert Turkish Lira to foreign currency for the purpose of exporting it out of the country.

Example: A person may face challenges in converting a large sum of Turkish Lira into a foreign currency through their bank before leaving Turkey.

3. Central Bank approval:

In some cases, individuals or businesses may require prior approval from the Central Bank of Turkey to export Turkish Lira in certain amounts or for specific purposes.

Example: If a business wants to export a significant amount of Turkish Lira for investment purposes in another country, they might need to seek approval from the Central Bank beforehand.

4. Potential penalties:

If individuals or businesses fail to comply with the regulations on exporting Turkish Lira or fail to declare the amount exceeding the limit, they may face penalties, including fines or legal consequences.

Example: If someone is found carrying Turkish Lira exceeding the allowed limit without declaring it, they may be subject to a fine or legal action.

Travellers can find valuable travel information for tourists, such as local customs, must-see attractions, and dining recommendations, to make the most of their trip.

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