Turkish lira hits record low against U.S. dollar

Turkish lira hits record low against U.S. dollar

The Turkish Lira (TRY) has reached a new low against the U.S. Dollar (USD), according to recent exchange rate data. As of July 18, 2025, the TRY/USD rate stood at 1 TRY = 0.02477 USD, marking a significant decline from previous levels. This exchange rate is the lowest recorded for the year, highlighting the continued depreciation of the Turkish Lira.

The average TRY/USD exchange rate for 2025 is 0.02649 USD per Turkish Lira, with the highest rate recorded on January 7, 2025, at 0.02830 USD. However, the current rate of 0.02477 USD signifies a 12.36% decrease in the value of the Turkish Lira against the U.S. Dollar for the year. This trend indicates a steady decline in the Lira's value, which could have implications for Turkish exports and imports, as well as the overall economic health of the country.

The Turkish Lira's depreciation can be attributed to various factors, including economic instability, political uncertainty, and global market dynamics. In addition, the recent exclusivity agreement between OQ Exploration & Production (OQEP.OM) and Turkish Petroleum Corporation (TPAO) with the Ministry of Energy and Minerals (MEM) may have influenced the currency's value. The agreement, which grants TPAO and OQEP exclusive rights to assess and evaluate certain blocks for three months, could potentially impact the energy sector and, by extension, the Turkish economy.

Investors and financial professionals should monitor these developments closely, as the continued depreciation of the Turkish Lira could lead to further economic challenges and potential market volatility. The current exchange rate of 1 TRY = 0.02477 USD underscores the need for a balanced approach to economic policy and market interventions to stabilize the currency and bolster investor confidence.

References:
[1] https://www.exchange-rates.org/exchange-rate-history/try-usd-2025-07-18
[2] https://www.tradingview.com/news/reuters.com,2025:newsml_L6N3TD09W:0-oman-s-oqep-hits-5-month-high-on-turkish-petroleum-deal/
[3] https://www.staradvertiser.com/2025/07/16/breaking-news/dollar-dips-as-trump-denies-planning-to-fire-fed-chair-powell/