Turkish Lira - Quote - Chart - Historical Data (2024)

The Turkish lira appreciated to 33.9 per USD in early September after hitting a record low of 34.0, as the central bank introduced measures to curb the rising demand for foreign currency. These measures include raising banks’ targets to increase lira deposits and tightening liquidity by adjusting reserve requirements. The steps were taken in response to the lira's significant decline in August, driven by increased foreign currency demand. State banks reportedly sold over $10 billion in August to meet this demand. Meanwhile, Turkey’s move towards conventional monetary policies, after a period of ultra-loose policies, is yielding positive results, with inflation easing to 51.9% in August from 61.7% in June. Additionally, The central bank maintained its key interest rate at 50% for the fifth consecutive meeting in August, reaffirming its commitment to controlling inflation.

The USDTRY increased 0.0362 or 0.11% to 34.0675 on Tuesday September 17 from 34.0313 in the previous trading session. Historically, the USDTRY reached an all time high of 36.32 in August of 2024. Turkish Lira - data, forecasts, historical chart - was last updated on September 17 of 2024.

The USDTRY increased 0.0362 or 0.11% to 34.0675 on Tuesday September 17 from 34.0313 in the previous trading session. The Turkish Lira is expected to trade at 34.17 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 34.46 in 12 months time.

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.