TRY Market Update
20 Mar 2026 • 00:18 GMT
The Turkish lira (TRY) remains near its 90-day lows against the US dollar, trading around 0.022569. This is about 1.8% below its three-month average of 0.022987, showing a slight weakening in recent sessions. The currency has traded within a narrow range of roughly 3.7%, indicating limited volatility despite market uncertainties.
Recent developments include the Turkish Central Bank’s efforts to stabilize inflation, with target rates of 24% for the end of 2025 and 16% for 2026. These measures, alongside a pause in liquidity-providing repo auctions, have not yet reversed the slight downward trend in TRY against the dollar. The broader USD outlook remains mixed, with safe-haven demand influenced by Middle East tensions and expectations of a gradual USD depreciation later in the year.
While the TRY has held steady against other currencies like the euro and yen, overall sentiment suggests caution. The TRY’s movement reflects ongoing macroeconomic policies and regional geopolitical factors. Market participants should watch for further Turkish policy signals and global risk sentiment, which could influence the TRY’s direction in the coming weeks.
📊 Quick forecast view
Near-term bias: 🔴 Mild downside
Expected range: 0.0220 – 0.0230
Dominant driver: 🌍 Global risk sentiment
3-month trend: ⚪ Range-bound
