The Turkish lira weakened past 45.2 per US dollar in May, falling to a fresh record low and extending its gradual depreciation, helped by ongoing foreign exchange interventions by the central bank. The bank’s disinflation strategy has largely hinged on maintaining a real appreciation of the lira, ensuring the currency does not weaken faster than the pace of monthly inflation. However, price pressures remain elevated. Consumer prices rose 4.18% month-on-month in April, pushing the annual inflation rate to 32.37%, a six-month high and above market expectations of 31%, as higher energy costs linked to tensions in the Middle East added to existing inflationary pressures. Meanwhile, the Central Bank of the Republic of Turkey left its policy rate unchanged in April, as expected, and reiterated its commitment to a cautious, data-dependent approach going forward.

The USD/TRY exchange rate rose to 45.5798 on May 18, 2026, up 0.20% from the previous session. Over the past month, the Turkish Lira has weakened 1.58%, and is down by 17.56% over the last 12 months. Historically, the USDTRY reached an all time high of 45.58 in May of 2026. Turkish Lira - data, forecasts, historical chart - was last updated on May 18 of 2026.

The USD/TRY exchange rate rose to 45.5798 on May 18, 2026, up 0.20% from the previous session. Over the past month, the Turkish Lira has weakened 1.58%, and is down by 17.56% over the last 12 months. The Turkish Lira is expected to trade at 45.43 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 45.04 in 12 months time.



Crosses Price Day Year Date
USDTRY 45.5803 0.0902 0.20% 17.56% May/18
EURTRY 53.0226 0.1349 0.26% 21.67% May/18
GBPTRY 60.9500 0.3281 0.54% 18.24% May/18
AUDTRY 32.6178 0.0733 0.23% 30.29% May/18
NZDTRY 26.7052 0.1435 0.54% 16.89% May/18
TRYJPY 3.4854 -0.0039 -0.11% -7.05% May/18
TRYCNY 0.1492 -0.0006 -0.41% -19.62% May/18
TRYCHF 0.0172 -0.0001 -0.40% -20.20% May/18
TRYCAD 0.0301 -0.0001 -0.27% -16.19% May/18
TRYMXN 0.3797 -0.0015 -0.39% -24.24% May/18
TRYINR 2.1058 -0.0021 -0.10% -4.42% May/15
TRYBRL 0.1113 0.0011 1.04% -23.64% May/15
TRYRUB 1.5976 -0.0149 -0.92% -22.78% May/15
TRYKRW 32.9222 0.0412 0.13% -8.58% May/15
TRYIDR 386.7219 0.4309 0.11% -8.91% May/15
TRYARS 30.6368 0.0020 0.01% 4.23% May/15
TRYCZK 0.4596 0.0008 0.18% -20.15% May/15
TRYDKK 0.1412 0.0003 0.18% -17.87% May/15
TRYHUF 6.8358 0.0882 1.31% -26.96% May/15
 Currencies
 TRY...
 ...TRY



Related Last Previous Unit Reference
United States Inflation Rate 3.80 3.30 percent Apr 2026
Turkey Inflation Rate 32.37 30.87 percent Apr 2026
United States Fed Funds Interest Rate 3.75 3.75 percent Apr 2026
Turkey Interest Rate 37.00 37.00 percent Apr 2026
United States Unemployment Rate 4.30 4.30 percent Apr 2026
Turkey Unemployment Rate 8.10 8.40 percent Mar 2026

Turkish Lira
The USDTRY spot exchange rate specifies how much one currency, the USD, is currently worth in terms of the other, the TRY. While the USDTRY spot exchange rate is quoted and exchanged in the same day, the USDTRY forward rate is quoted today but for delivery and payment on a specific future date.
Actual Previous Highest Lowest Dates Unit Frequency
45.58 45.49 45.58 0.01 1992 - 2026 Daily

News Stream
Turkish Lira Hits Record Low
The Turkish lira fell past 45.5 per US dollar in mid-May, hitting a fresh record low after the central bank signaled that disinflation will be slower than previously expected amid energy and food price shocks linked to the Middle East conflict. This comes against the backdrop of a disinflation strategy that relies on maintaining a degree of real appreciation in the lira, aiming to prevent currency depreciation from outpacing inflation and gradually anchor price stability. However, this approach is under strain as inflation pressures remain elevated. Policymakers now project end-2026 inflation at 26%, above the 15%–21% forecast range set in February. Consumer prices also rose 4.18% month-on-month in April, pushing the annual inflation rate to 32.37%, a six-month high and above market expectations of 31%. In response, the central bank has kept its policy rate at 37% for two straight meetings but has effectively tightened liquidity by lending at a higher 40% rate since the conflict began.
2026-05-15
Turkish Lira Hits All-time Low
USDTRY increased to an all-time high of 45.53. Over the past 4 weeks, US Dollar Turkish Lira gained 1.77%, and in the last 12 months, it increased 17.75%.
2026-05-14
Turkish Lira Tops 45 per USD
The Turkish lira weakened past 45.2 per US dollar in May, falling to a fresh record low and extending its gradual depreciation, helped by ongoing foreign exchange interventions by the central bank. The bank’s disinflation strategy has largely hinged on maintaining a real appreciation of the lira, ensuring the currency does not weaken faster than the pace of monthly inflation. However, price pressures remain elevated. Consumer prices rose 4.18% month-on-month in April, pushing the annual inflation rate to 32.37%, a six-month high and above market expectations of 31%, as higher energy costs linked to tensions in the Middle East added to existing inflationary pressures. Meanwhile, the Central Bank of the Republic of Turkey left its policy rate unchanged in April, as expected, and reiterated its commitment to a cautious, data-dependent approach going forward.
2026-05-04