TRY Market Update
04 May 2026 • 00:31 GMT
The Turkish lira has fallen to its lowest levels against the U.S. dollar in about three months, with the TRY/USD rate near 0.022128. This marks a 2% decline below its recent three-month average of 0.022579. The currency has been trading within a narrow 4% range, indicating some stability despite the recent drop.
In Turkey, the central bank has been actively adjusting policies, including a significant interest rate hike to 45% in January and measures to strengthen financial stability. Still, inflation remains a concern, with projections for 2026 showing a rise to around 28.5%. Meanwhile, official forecasts for later this year expect the TRY to continue weakening as part of the broader economic adjustment process.
Against major currencies, the TRY has also weakened against the euro, GBP, AUD, CAD, and CHF, reaching 90-day lows in these pairs. Overall, while the TRY has experienced some depreciation, the trading remains relatively stable within recent ranges. Market participants should keep an eye on U.S. dollar momentum and Turkish economic developments, especially inflation data and central bank policies, which may influence the TRY in the near term.
📊 Quick forecast view
🔴 Mild downside
0.0220 – 0.0220
🌍 Global risk sentiment
🔴 Downtrend
