Mr Pelin Baysal

Pelin Baysal

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Litigation

Supreme Court view on adapting contracts due to fluctuation in currency exchange rates
Turkey | 04 September 2018

Turkey has recently faced higher currency exchange rates, which has raised the question of whether this increase constitutes a change in circumstances that affects the fulfilment of contractual obligations. As there is no settled Supreme Court precedent regarding whether a fluctuation in currency exchange rates requires the adaptation of contracts, first-instance courts will need to examine the circumstances of each case.