BDDK Removes Value Date in Gold and Foreign Exchange Transactions

BDDK Removes Value Date in Gold and Foreign Exchange Transactions BDDK removes the value date application in gold and foreign exchange transactions. The value date application has been in effect in foreign currency since May 2019 and since May 2020 for gold. The Banking Regulation and Supervision Agency announced that it abolished the one-day value date applied in foreign exchange transactions over 100 thousand dollars and gold over 100 grams. Since May 20, 2019, the BDDK has been applying a value date for the transfer of the foreign currency to the relevant person's account or opening it for use in foreign currency purchases of 100 thousand dollars or more per day. With a new decision taken in May 2020, the value date application was put into effect in the daily purchase of 100 grams or more of gold by natural and legal persons. With the aforementioned application, in foreign currency purchases, the amount was transferred to the relevant account one business day later. As of the week of November 20, foreign exchange deposits rose to over $ 228 billion and broke a record.