Lead
The Turkish lira has fallen to a new all-time low against the US dollar, with the exchange rate at approximately $0.0362 per TRY. The slide extends a long-running depreciation trend visible since 2011, underscoring persistent pressure on Turkey’s currency.
Key Developments
- The current rate shown is $0.0362 per Turkish lira (TRY).
- A charted time frame from November 2011 to November 2023 illustrates a steady, prolonged decline.
- Over the period, the lira’s value against the dollar dropped from above $0.60 per TRY in 2011 to $0.0362 in 2023.
Historical Context
Visualized market data covering November 2011 through November 2023 shows a consistent downward trajectory for the lira. From levels exceeding $0.60 per TRY in 2011 to $0.0362 per TRY in late 2023, the currency has lost the vast majority of its dollar value over the past decade-plus. The chart presented as a shaded line graph highlights the persistent nature of the decline and the currency’s latest record low.
Market Impact
A record-low exchange rate typically increases import costs and can add to inflationary pressures. Episodes of currency stress often drive households and businesses toward defensive positioning—such as dollarization or buying hedges like gold—and, in recent years, have coincided with heightened interest in dollar-pegged instruments in some markets. While near-term direction will depend on policy decisions and market confidence, the lira’s long-term trend remains a central focus for investors and analysts tracking Turkey’s macroeconomic outlook.
Data Note
- Displayed exchange rate: $0.0362 per TRY
- Observed period: Nov 2011 – Nov 2023
- Visualization: Line chart with shaded area indicating the lira’s decline against the dollar
Conclusion
The Turkish lira’s latest record low against the US dollar reinforces a multi-year depreciation trend. Markets will be watching policy signals and economic data closely to gauge whether the currency can stabilize from these historic levels.