Turkish Lira Hits Record Low, Breaking the 50 Mark Against the Dollar
The Turkish lira fell to a historic low against the dollar, breaking the 50 mark, amid expectations of further declines.
Translated by Qiyas from كونا — Original source
Istanbul, Nov. 4 (KUNA) -- The Turkish lira hit a historic low against the US dollar on Wednesday, as the exchange rate surpassed the 50-lira threshold, reaching 50.02 lira per dollar according to morning trading data. The lira has depreciated by more than 18 percent since the beginning of this year, having already lost about 25 percent of its value in 2025 amid continued pressure on the Turkish currency.
According to a survey of market participants, the Turkish Central Bank’s forecasts suggest the dollar could reach 51.5 lira by year-end. Meanwhile, international financial institutions, including Goldman Sachs, Deutsche Bank, and Commerzbank, expect the dollar to exceed 52 lira.
Over the past years, the lira has experienced successive declines amid rising inflation, challenges facing financial markets, and the Turkish central bank’s monetary policy. In March 2026, the dollar reached approximately 44.1 lira, coinciding with escalating tensions in the Middle East and a sharp rise in global oil prices.
The dollar’s breach of the 50-lira mark adds a new challenge for Turkish economic authorities in their efforts to achieve monetary stability and curb inflation. It is worth noting that the Turkish lira had already recorded several low levels in 2025, driven by high inflation and ongoing problems in the Turkish financial market. (End)
