Turkish Lira exchange rate

At the beginning of the second millennium; It was necessary for Turkey to make adjustments to its currency after the great economic growth that the country witnessed, and for this reason, the Currency Regulation Law of the Republic of Turkey was issued on January 28, 2004, No. 5083, which conducted a revaluation of the currency, deleting 6 zeros from the currency on January 1, 2005, to begin... The new generation of money after removing six zeros from the Turkish lira,

The exchange rate was 1.34 Turkish Lira 64 years ago.
According to data from the State Institute of Statistics, the value of the dollar was 1.67 lira in 1923, when the republic was declared in Turkey, while it rose to 1.93 in 1924 and fell again to 1.87 lira in 1925. While the dollar rose until 1930 and reached 2.12 lira, it fell to 1.26 lira. The year 1938. While the value of the dollar ranged between 1.28-1.38 liras during World War II, it rose to 1.88 liras in 1946.

• Dollar  1.3 Turkish Lira in 2008

The US dollar, which was at 1.3 TL in 2008, remained below 2 TL for almost 5 years.

It began to rise in 2013 due to political unrest in Türkiye.

At the end of 2013, with the investigation of corruption and bribery cases from December 17 to 25 in Turkish political history

Followed by truck accidents on January 1, 2014, the dollar crossed the 2 TL level and began trading at 2.3 TL at the end of January 2014.

• Fluctuations in the dollar exchange rate after the 2015 elections

While the price of the dollar was around 2 TL for about a year, it crossed the 3 TL limit in September 2015 as a result of political activity before and after the 25th general elections of the Turkish Grand National Assembly held on 7 June 2015.

While the Justice and Development Party, which has been in power alone since 2002, lost its majority in Parliament in the elections,

The Peoples' Democratic Party, which entered the elections for the first time, exceeded the mark of 10. The 100 threshold and won 80 deputies with a majority of 13.1 votes.

While the price of the dollar was about 3 Turkish liras in the first half of 2016,

The attempted military coup on July 15 accelerated the decline of the Turkish lira.

Fluctuations in the price of the dollar during the period of constitutional amendment

While the US dollar hovered between 3 and 4 Turkish lira in 2017-2018, Turkey saw new economic activity during the presidential and general elections period on June 24.

Turkey, which changed 18 articles of its constitution as a result of the referendum held in April 2017, elected Recep Tayyip Erdogan as president in June.

In the 40-day period after the election, the US dollar traded at about 4.8 Turkish lira, approaching the threshold of 5 Turkish lira.

• The threat of US sanctions: The dollar reached 7 Turkish liras

The development at the beginning of August 2018 caused the largest decline in the Turkish lira in the past 10 years.

After American pastor Andrew Bronson, who was arrested on December 9, 2016 on charges of espionage, was placed under house arrest, harsh statements came one after another, first from US Vice President Mike Pence and then from President Donald Trump.

After the United States of America announced that it would impose economic sanctions on Turkey if Pastor Bronson was not released, the dollar exceeded the level of 6.5 Turkish liras and reached the threshold of 7 Turkish liras in just one week.

Although the dollar fever subsided after Bronson's release in October 2018, it remained at 5 TL and traded at 5.2 to 5.6 TL for about 6 months.

• The dollar exchange rate was affected by the local elections of March 31, 2019

The Turkish economy, which entered the local election process in 2019, lost its blood again due to this political mobilization. During the period of local elections on March 31, which resulted in the Justice and Development Party losing the position of mayor of Ankara, Istanbul and Izmir after 24 years.

The dollar rose again and reached the level of 5.7 Turkish Liras.

After the election results in Istanbul were annulled and the controversial process that followed, one US dollar was sold for 6.1 Turkish lira on May 9, 2019. After the CHP candidate Ekrem Imamoglu won the race in Istanbul in the June 23 elections, the dollar fell below the level of 6 Turkish liras and began trading at a price of 5.5 to 5.7 Turkish liras.

• The exchange rate of the dollar against the Turkish lira 2020

The exchange rate of the dollar against the Turkish lira opened at the beginning of 2020 at a price of 5.95 and reached at the end of 2020 a price of 7.41

• The exchange rate of the dollar against the Turkish lira 2021

The exchange rate of the dollar against the Turkish lira opened at the beginning of 2021 at a price of 7.36 and reached at the end of 2021 a price of 12.62.

• The exchange rate of the dollar against the Turkish lira 2022

The exchange rate of the dollar against the Turkish lira opened at the beginning of 2022 at a price of 13.60 and reached at the end of 2022 a price of 18.69.

• The exchange rate of the dollar against the Turkish lira 2023

The exchange rate of the dollar against the Turkish lira opened at the beginning of 2023 at a price of 18.72 and reached at the end of 2023 a price of 29.36.

• Changes in the price of the lira at the beginning of 2024

Today's forecast for the Turkish lira. The Turkish lira is witnessing a short-term rise during the year, as investors embrace risk sentiment and a temporary decline to the 25 level.

From a fundamental analysis point of view, the Turkish Lira should continue to decline in 2024 as political power policies continue, as analysts expect the Turkish Lira to decline further, by up to 20 - 30% against the US dollar during 2024.

There are expectations for the prices of the Turkish Lira for the next five years and beyond, and agencies and banks continue to expect the Turkish Lira to decline in the coming years in light of the current financial policies.

At the beginning of 2024, the exchange rate for the Turkish lira against the dollar started at 29.72.