March 4, 2019 / 4:23 AM / 16 days ago

Turkey extends decree requiring exporters convert revenue to lira

ISTANBUL, March 4 (Reuters) - Turkey has extended by six months a decree announced in September under which exporters must convert 80 percent of their foreign exchange revenue into lira within 180 days of receiving payment, the Official Gazette said on Sunday.

The decree was first published on Sept. 4, when the decree was put into effect for six months. In Sunday’s announcement, it revised the original decree saying it was put into effect for one year.

Reporting by Can Sezer; Editing by Daren Butler

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