Turkish Lira Hits Fresh Record Low as June Inflation Eases Only Slightly to Above 32%

The Turkish lira hit a fresh record low against the dollar on Thursday, July 9, 2026, trading near 46.86 per dollar, per Trading Economics. Turkey's statistics office had reported on July 3 that annual June inflation eased slightly to 32.11%, down from 32.61% in May and the lowest since March. However, energy and food shocks from the intensifying Iran-US conflict have slowed the disinflation trend. Turkey's central bank (TCMB) has held its policy rate at 37% for a third consecutive meeting. For Iranian investors and traders with commercial ties to Turkey, the lira's continued slide can directly affect the cost of imports from the country.