The CBRT gave 6 separate hours for the conversion rate announcements

In two separate statements published by the Central Bank of the Republic of Turkey (CBRT), adjustments were made in the conversion rates related to foreign exchange and gold conversion accounts. Accordingly, the conversion rate will be announced by the Central Bank at 10:00, 11:00, 12:00, 13:00, 14:00 and 15:00. The most recently announced foreign exchange buying rate will be taken into account as of the hour when the foreign currency in foreign exchange deposit accounts and foreign exchange denominated participation fund accounts is converted into Turkish lira. In the previous regulation, the exchange rate announced by the CBRT at 11:00 was used as the conversion rate. With the latest regulation, the maturity rate was announced as the foreign exchange buying rate announced by the Central Bank at 11:00 am at the maturity of the Turkish lira deposit or participation account.

Similar arrangement in gold accounts

With a separate statement, the CBRT made a similar arrangement for gold to TL conversion accounts. The gold conversion price will be announced by the Central Bank at 10:00, 11:00, 12:00, 13:00, 14:00 and 15:00. As of the hour when the gold in the gold accounts is converted into Turkish lira, it will be applied as the Turkish lira equivalent purchase price of the gram gold of 995 or 1000 purity, which was announced last. The expiry price will mean the "purchase price of 995 or 1000 grams of gold in Turkish lira, which is announced by the Central Bank at 11:00 am at the maturity of the Turkish lira deposit or participation account".

Participation account return regulation

According to the clause added to article 4 of the explanation on supporting the conversion to TL deposit and participation accounts, if the return to be provided to the participation account is lower than the cost incurred in the purchase transactions with the one-week resale promise made by the Central Bank within the scope of open market operations with participation banks, It can be covered by the participation bank within the framework of participation banking principles. No payment will be made by the Central Bank for the unpaid portion.