4/5/2012

Mercedes-Benz switches to Turkish lira in trade with Turkey

Hürriyet - Beginning from April 1, the world’s oldest automotive company Mercedes-Benz of Germany switched to the Turkish lira instead of the euro in its transactions with Turkey, in a move that underlines the increasing strength of the Turkish currency and the country’s growing economy.

Mercedes-Benz Turk, the company’s Turkish unit, will import Mercedes-branded automobiles by paying in Turkish lira. The company’s decision also marks the first time usage of Turkish lira in trade between Turkey and the EU’s largest economy, Germany. Turkey signed agreements with Russia, Iraq, Iran and China on using national currencies in bilateral trade.

Mercedes-Benz Turk is the first international company to use the Turkish lira in exchange for imported goods, the company’s Sales Director Suer Sulun said about Mercedes-Benz’s parent group Daimler’s decision. “The Turkish lira is seen as a strong and credible currency in Daimler headquarters. The company affirms its confidence in the consistent stability of the Turkish lira with this one-way decision,” Sulun added.

Mercedes-Benz has adapted a similar policy with Russia and Mexico, also fast growing economies.
Turkey; Turkish currency; Turkish lira; Daimler; Mercedes-Benz; Mercedes benz türk; turkey national currency