According to a decree published in the Official Gazette
It says that export proceeds must be brought back to Turkey within 180 days and that 80% of said proceeds must be given to a bank. Contracting firms must bring back proceeds from their exports within 365 days.
I'm not too familiar with Turkey customs regulations and searching for it has yielded nothing so far. If any of our readers are well-versed in this area, please do drop a line in the comments section below.
But in essence, this is a lira positive. In Malaysia, this exact same measure is being enforced in order to prevent exporters from holding large amounts of foreign currencies and not convert them to the local currency instead. So, by forcing them to bring back those proceeds and to convert them it is essentially propping up the local currency.
