Turkish lira hits record low above 50 per euro

The Turkish lira recorded a new historic low against the euro, surpassing the threshold of 50 lira per euro for the first time, the newspaper Birgün reported.

The exchange rate reached 50.0519 Turkish lira per euro at 3:12 p.m. local time (2:12 p.m. Bulgarian time) yesterday, CE Report quotes BTA.

According to the Turkish news website Memurlar.net, the depreciation of the lira is linked to the latest cut in the key interest rate by the U.S. Federal Reserve, after which the U.S. dollar weakened and the euro strengthened. The strengthening of the European currency against the dollar was also reflected in the euro–lira exchange rate.

Data from the reference rate of the Turkish Central Bank at 3:30 p.m. local time (2:30 p.m. Bulgarian time) yesterday showed the euro trading at 49.8569 Turkish lira. On the free market, according to Hürriyet, the rate reached 50.1658 lira per euro at around 10:00 a.m. local time (9:00 a.m. Bulgarian time) today.

Birgün recalled that on June 12, 2025, the Turkish currency crossed the threshold of 45 lira per euro, highlighting the continuing trend of depreciation.