USD to TRY for business payments
A foreign business paying a Turkish supplier can pay in US dollars, euros or Turkish lira (TRY). Türkiye's export rules are written around foreign currency received by a Turkish bank, and at least 35% of export proceeds recorded on an export proceeds certificate must be sold for lira, so the currency you pay in changes what the supplier receives and how its bank closes the export.
- The Central Bank of the Republic of Türkiye (CBRT) states that after the 2001 crisis Türkiye adopted a floating exchange rate regime, under which exchange rates are determined by supply and demand in the market.
- Goods export proceeds must be brought into Türkiye within 180 days of the actual export date under the Communiqué issued under Decree No. 32 on the Protection of the Value of the Turkish Currency.
- At least 35% of export proceeds linked to an İBKB, the export proceeds acceptance certificate, must be sold to the bank for lira, a rate the CBRT has extended to 31 January 2027.
- A Turkish IBAN has 26 characters starting with TR, and a company's dollar account has its own IBAN separate from its lira account.
- FAST, the CBRT's instant payment system launched on 8 January 2021, runs 24/7 for lira only with a limit of 300,000 TL per transaction; larger lira payments use EFT.
The Turkish lira at a glance
The Turkish lira (TRY) is issued by the Central Bank of the Republic of Türkiye (CBRT). The CBRT explains that one of its main duties is to determine and implement the exchange rate regime jointly with the Government, and that after the economic crisis in 2001 Türkiye adopted the floating exchange rate regime, under which exchange rates are determined by supply and demand conditions in the market. A lira invoice therefore carries exchange rate risk for a dollar-based buyer until it is paid.
| Item | Turkish lira |
|---|---|
| Currency code | TRY |
| Issuer | Central Bank of the Republic of Türkiye (CBRT) |
| Exchange rate regime (CBRT wording) | Floating; rates determined by supply and demand in the market |
| Export proceeds | Brought into Türkiye within 180 days of export (Decree No. 32 Communiqué) |
| Sale for lira | At least 35% of proceeds linked to an İBKB, until 31 January 2027 |
| Account format | IBAN, 26 characters, starting TR |
| Lira rails | FAST (instant, 24/7, up to 300,000 TL) and EFT (interbank funds transfer) |
Sources: CBRT, Exchange Rate Policy; CBRT, FAST; Andersen Türkiye, Mevzuat Sirküleri 2026/26. Checked on 29 October 2026.
Turkish export proceeds rules that affect your payment
Türkiye regulates export proceeds under Decree No. 32 on the Protection of the Value of the Turkish Currency and the communiqués issued under it.
- 180 days to bring proceeds home. Proceeds from goods exports must be brought into Türkiye within 180 days of the actual export date.
- A share is sold for lira. When a Turkish bank records the proceeds on an İBKB (İhracat Bedeli Kabul Belgesi, the export proceeds acceptance certificate), at least 35% must be sold to that bank for lira, according to Andersen Türkiye. The CBRT has extended the 35% rate to 31 January 2027, as reported by Para Ajansı on 8 August 2026.
- Lira payments for goods need a check first. The rules are written around foreign currency that a Turkish bank receives and records on an İBKB. Before paying a goods invoice in lira, ask the supplier whether its bank can close the export file with that payment.
- No crypto. The CBRT's regulation in force since 30 April 2021 states that crypto assets, including stablecoins, cannot be used in payments directly or indirectly.
The full corridor guide is how to pay suppliers in Türkiye.
How a payment reaches a Turkish supplier
Turkish accounts use IBAN, the International Bank Account Number. A Turkish IBAN has 26 characters: TR, two check digits, a five-digit bank code, a reserved digit and a 16-character account number, according to Currencies Direct. A dollar or euro wire arrives by SWIFT; a provider that converts inside Türkiye pays lira over the CBRT's systems. FAST runs 24 hours a day, 7 days a week, handles lira only and has a limit of 300,000 TL per transaction, which the CBRT says may be revised. Larger lira payments use EFT, the CBRT's interbank funds transfer system.
| Detail | What to use | What goes wrong |
|---|---|---|
| Beneficiary name | Supplier's registered name, exactly as on the account | Query or return |
| IBAN | The IBAN of the account in the invoice currency, 26 characters, no spaces | The lira IBAN on a dollar wire leads to conversion or a query |
| SWIFT code | From the supplier's bank, for a foreign currency wire | Payment routed to the wrong bank |
| Reference | Invoice and export references | The bank cannot link the payment to the export and issue the İBKB |
Sources: Currencies Direct, TRY transfers; CBRT, FAST. Checked on 29 October 2026.
What converting USD to TRY costs
Converting dollars to lira costs the mid-market rate, the midpoint between buying and selling prices at that moment, plus the provider's margin, plus the payment fee. If you pay dollars, the supplier pays to receive them and its bank converts the share it must sell. Halkbank's published list rate for an incoming transfer from abroad is 0.5%, with a minimum of $30 and a maximum of $300, plus 5% BSMV, the banking and insurance transactions tax. At that rate a $20,000 wire costs the supplier $100 plus BSMV, and a $100,000 wire $300 plus BSMV, because the cap applies. Send with OUR charges when the supplier must receive the full amount.
Helm is a financial technology company, not a bank. Its US dollar account services are provided by Bridge Building, Inc. (NMLS ID 2450917), a licensed money transmitter, with customer funds held at Lead Bank. A Helm account holds dollars in your company's own name and sends international payments to suppliers by SWIFT, or by local rails in the supplier's currency where available, with the rate, fee and expected arrival shown before you send.
Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment. See how Helm pricing works.
Pay a Turkish supplier in USD, EUR or TRY?
- Pay USD or EUR for goods exports when the supplier invoices in them. Its bank records the proceeds on an İBKB and handles the 35% sale.
- Pay TRY for local costs and lira invoices, and for goods only after the supplier confirms its bank can close the export file with a lira payment. A local payout over FAST is instant below 300,000 TL.
- Match the IBAN to the currency. A dollar wire to a lira IBAN is converted on arrival at the supplier's bank rate.
Turkish companies receiving dollars can read our guide to USD business accounts in Türkiye.
Open a Helm account
USD, EUR and GBP accounts in your company's name, with a named account manager.
Open accountQuestions
What exchange rate regime does Türkiye use?
The CBRT states that after the 2001 crisis Türkiye adopted the floating exchange rate regime, under which exchange rates are determined by supply and demand in the market. The CBRT determines the regime jointly with the Government.
How long does a Turkish exporter have to bring proceeds home?
Goods export proceeds must be brought into Türkiye within 180 days of the actual export date under the Communiqué issued under Decree No. 32.
Does a Turkish supplier have to sell my dollars for lira?
Partly. At least 35% of export proceeds linked to an İBKB must be sold to the bank for lira, a rate the CBRT has extended to 31 January 2027.
How long is a Turkish IBAN?
A Turkish IBAN has 26 characters starting with TR. A company's dollar account has its own IBAN, separate from its lira account, so use the one that matches the invoice currency.
What is FAST in Türkiye?
FAST is the CBRT's instant payment system, launched on 8 January 2021. It runs 24/7, handles lira only and has a limit of 300,000 TL per transaction.
What does Helm charge to pay a supplier in Türkiye?
Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment.
References
- Central Bank of the Republic of Türkiye: Exchange Rate Policy
- Central Bank of the Republic of Türkiye: FAST Nedir?
- Andersen Türkiye: Mevzuat Sirküleri 2026/26, export proceeds sale obligation continues (6 May 2026)
- Para Ajansı: CBRT changes conversion support; 35% sale obligation extended to 31 January 2027 (8 August 2026)
- Currencies Direct: TRY transfers (Turkish lira)
- Halkbank: Dış İşlemler Bilgi Formu (foreign transactions information form)
- CMS: Turkey introduces its first regulation on crypto assets
This guide is general information for businesses, not financial, legal or tax advice. Rules, fees and timings were checked against the sources listed on the review date and may change.