Exchange Rate in Turkey
Turkey's exchange rate depreciated hugely against the U.S. dollar over the last decade, as a result of extremely high price pressures, periods of unorthodox monetary policy, and growing investor concerns over democracy and the rule of law.
The exchange rate ended 2024 at TRY 35.36, compared to the end-2023 value of TRY 29.53 and the figure a decade earlier of TRY 2.34. It averaged TRY 11.65 over the last decade. For more exchange rate information, visit our dedicated page.
Turkey Exchange Rate Chart
Note: This chart displays Exchange Rate (vs USD) for Turkey from 2014 to 2024.
Source: Macrobond.
Turkey Exchange Rate Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Exchange Rate (TRY per USD, eop) | 7.43 | 13.28 | 18.72 | 29.53 | 35.36 |
| Exchange Rate (TRY per EUR, aop) | 8.01 | 10.54 | 17.44 | 25.74 | 35.54 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Turkish exchange rate projections for the next ten years from a panel of 24 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable exchange rate forecast available for Turkish exchange rate.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Turkish exchange rate projections.
Want to get access to the full dataset of Turkish exchange rate forecasts? Send an email to info@focus-economics.com.