The Turkish Lira Sets a Fresh Record Low, Crossing 48 to the Dollar

The US dollar to Turkish lira pair reached an all time high on Monday, 24 August 2026 (2 Shahrivar 1405). XE.com put the mid market rate at 48.0764 at 04:10 GMT, and Trading Economics recorded 48.0762 in a live reading the same day, a difference between the two sources of less than one ten thousandth of a lira.

XE's own data shows the pair had reached at most 48.0334 over the previous seven days, on 23 August, making today's print a fresh step up. The lira has lost 17.3 percent of its value against the dollar over the past year, while the Turkish central bank's policy rate stands at 37 percent. The move is a continuation of an existing trend rather than the result of any new policy decision by the central bank.

For Iranian readers, the lira's path feeds directly into the cost of cross border trade, travel and property purchases in Turkey: a cheaper lira means Turkish goods and assets cost a rial holder less.