The Turkish lira weakened to a record low of 43.5 per USD in February amid the controlled devaluation by the Central Bank of Turkey, as markets assessed the outlook of currency flows for the year. The central bank continued to manage their foreign exchange reserves and maintained measures to stimulate lira deposits by domestic investors to control the pace of the currency's depreciation, which resulted in a 20% loss of its value against the dollar last year. In the meantime, the TCMB cut its benchmark policy rate by 10.5 percentage points to 37% in its January meeting, noting that slowing trends in underlying inflation warrant a softer magnitude of restrictive policy, even though higher food prices supported the headline rate. The latest inflation rate held close to the 31% mark, firmly above the 27% hike in the national minimum wage for the year, which extended the trend of undershooting official inflation figures to squeeze purchasing power.
The USD/TRY exchange rate rose to 43.5841 on February 6, 2026, up 0.13% from the previous session. Over the past month, the Turkish Lira has weakened 1.28%, and is down by 21.11% over the last 12 months. Historically, the USDTRY reached an all time high of 43.63 in February of 2026. Turkish Lira - data, forecasts, historical chart - was last updated on February 7 of 2026.
The USD/TRY exchange rate rose to 43.5841 on February 6, 2026, up 0.13% from the previous session. Over the past month, the Turkish Lira has weakened 1.28%, and is down by 21.11% over the last 12 months. The Turkish Lira is expected to trade at 43.48 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 42.87 in 12 months time.