TRY Market Update
23 May 2026 • 01:15 GMT
The Turkish lira has seen notable weakness against the U.S. dollar, trading near 90-day lows at around 0.021876. This marks a 2.3% decline from its 3-month average of 0.02239. The move suggests continued pressure on the TRY amid Turkey’s ongoing monetary policy efforts and inflation outlook.
While the TRY remains stable within a narrow trading range, the overall trend shows the lira weakening relative to the dollar. The Central Bank of Turkey’s rate hikes and measures to stabilize the economy face challenges, with longer-term forecasts indicating further depreciation. Barclays projects the USD/TRY rate could reach around 50.25 by the end of 2026, reflecting a cautious outlook for the TRY’s recovery.
Against other major currencies, the TRY also declined slightly against the euro and the British pound, but remains relatively stable versus the Japanese yen and the Indian rupee. Keep an eye on economic developments and Turkish policy updates, as these factors will influence the TRY’s trajectory in the coming weeks.
📊 Quick forecast view
🔴 Mild downside
0.0220 – 0.0220
⚖️ Interest-rate differentials
🔴 Downtrend
