US dollar exceeds 50 Turkish lira for first time in Turkey

The US dollar has risen above the psychologically significant 50-lira mark in Turkey's free foreign exchange market, as the Turkish currency continues to weaken against the greenback. The dollar's selling rate reached 50.0021 lira on the morning of November 3, while its buying rate stood at 49.9892 lira. The euro was trading at approximately 56 lira.

The lira has depreciated significantly against the dollar over the past year. In November 2025 the dollar traded at around 42 lira, compared with approximately 50 lira now, an increase of roughly 19% over the 12-month period.

The currency movement comes amid interest rate cuts by the Central Bank of the Republic of Turkey. On October 22, the bank cut its benchmark rate by 100 basis points, from 37% to 36%. The regulator reported signs of easing underlying inflation trends but warned that elevated energy prices and geopolitical tensions continued to pose risks to price stability.