TCMB rates announced
Exchange rates in Turkey today
TCMB’s selling rate is ₺49.0582 for a dollar and ₺55.1819 for a euro; over the past year the dollar has moved +18.0% against the lira. Convert the lira and 21 currencies at the right rate, and see where the lira has been since 2005.
- Basket52.1201½ USD + ½ EUR
Every currency TCMB quotes
Buying and selling rates for transfers, the cash selling rate, the move since the previous announcement and over a year, and where each rate sits in its 52-week range. Tap a currency to convert it.
| Past year | |||||||
|---|---|---|---|---|---|---|---|
| 48.9699 | 49.0582 | 49.1318 | +0.05% | +18.0% | |||
| 55.0826 | 55.1819 | 55.2646 | −0.39% | +13.0% | |||
| 64.5796 | 64.9163 | 65.0137 | −0.10% | +15.7% | |||
| 59.0087 | 59.3875 | 59.4766 | +0.98% | +13.4% | |||
| 13.0430 | 13.0665 | 13.1645 | +0.05% | +17.8% | |||
| 13.2587 | 13.4322 | — | +0.05% | +18.0% | |||
| 158.1278 | 160.1969 | 162.5999 | +0.05% | +17.0% | |||
| 13.3595 | 13.5343 | — | +0.05% | +18.0% | |||
| 0.58328 | 0.59091 | — | −0.15% | +15.3% | |||
| 28.6444 | 29.0192 | — | +0.05% | +18.0% | |||
| 7.2630 | 7.3581 | — | +0.05% | +25.3% | |||
| 0.30987 | 0.31192 | 0.31310 | +0.41% | +10.1% | |||
| 33.9060 | 34.1271 | 34.3319 | −0.01% | +23.8% | |||
| 34.3626 | 34.5176 | 34.6488 | +0.14% | +15.4% | |||
| 7.3576 | 7.3937 | 7.4107 | −0.38% | +12.8% | |||
| 5.0697 | 5.1038 | 5.1156 | +0.07% | +21.8% | |||
| 4.8576 | 4.9078 | 4.9191 | +0.03% | +10.4% | |||
| 10.2574 | 10.3916 | — | −1.58% | +7.5% | |||
| 0.10873 | 0.11015 | — | −1.35% | — | |||
| 0.17581 | 0.17811 | — | +0.06% | +20.7% | |||
| 0.036120 | 0.036590 | — | +1.11% | +22.9% |
No matches
Lira per one unit of each currency (the yen too, which TCMB quotes per 100). ▲ the currency got dearer in lira, ▼ cheaper. TCMB publishes cash rates for some currencies only.
How far every currency moved
Over the past year 20 of 20 currencies got dearer in lira. At the top of the table is the Chinese Yuan (+25.3%), at the bottom the Romanian Leu (+7.5%).
Change in lira over 1 year
Today’s selling rate against the rate at the start of the period.
The dollar has doubled 5 times
On the first trading day of 2005 a dollar cost ₺1.3427; today it costs ₺49.06, 37 times as much. The first doubling took 10.3 years; the fastest, to ×16, took 1.5 years ().
- ×1₺1.3427
- ×2₺2.7010.3 years
- ×4₺5.413.3 years
- ×8₺11.053.3 years
- ×16₺21.501.5 years
- ×32₺43.042.6 years
Log scale: every step is the same height, one doubling.
The minimum wage, in dollars
The net minimum wage of ₺28,075.50 is worth $572 at today’s rate. Every raise lifts it; the lira’s slide then wears it down until the next one. It was last raised on , and in dollars it peaked at $654 in .
Today$572₺28,075.50
Since the last raise−12.5%
Peak$654
Low$185
Is the lira cheap?
The real effective exchange rate weighs the lira against the currencies of Turkey’s trading partners and corrects for inflation at home and abroad. A higher reading means a stronger, dearer lira; a lower one a cheaper lira, which helps exporters and makes Turkey cheaper for visitors.
105.0
19% below its average since 2005: in real terms the lira is cheaper than usual
Below its average for 110 months in a row; the last month above it was .
The index compares today with the past; it does not say where the lira goes next.
What the experts expected, and what happened
Every month TCMB’s Survey of Market Participants asks economists and market professionals where the dollar will end the year. In 9 of the last 13 years it ended above January’s forecast. The widest miss was in 2021: ₺8.09 expected, ₺13.00 at year end (+61%).
In the survey the expected year-end rate was ₺51.57, +5.1% from today’s rate.
Year by year
| Year | January forecast | December forecast | Year end | Against January |
|---|---|---|---|---|
| 2025 | ₺43.03 | ₺43.06 | ₺42.94 | −0.2% |
| 2024 | ₺40.00 | ₺35.30 | ₺35.29 | −12% |
| 2023 | ₺23.12 | ₺29.62 | ₺29.45 | +27% |
| 2022 | ₺16.13 | ₺18.78 | ₺18.73 | +16% |
| 2021 | ₺8.09 | ₺13.77 | ₺13.00 | +61% |
| 2020 | ₺6.41 | ₺7.77 | ₺7.35 | +15% |
| 2019 | ₺6.18 | ₺5.82 | ₺5.95 | −3.8% |
| 2018 | ₺4.12 | ₺5.44 | ₺5.27 | +28% |
| 2017 | ₺3.86 | ₺3.88 | ₺3.82 | −1.2% |
| 2016 | ₺3.17 | ₺3.46 | ₺3.54 | +12% |
| 2015 | ₺2.41 | ₺2.94 | ₺2.91 | +21% |
| 2014 | ₺2.21 | ₺2.32 | ₺2.32 | +5.1% |
| 2013 | ₺1.82 | ₺2.02 | ₺2.14 | +17% |
Questions about exchange rates
How much is the dollar in Turkish lira today?
In the rates TCMB announced on , the dollar’s selling rate is ₺49.0582 and its buying rate ₺48.9699; over a year the dollar has moved +18.0% against the lira. Banks and exchange offices quote their own rates around these.
How much is the euro in Turkish lira today?
TCMB’s euro selling rate is ₺55.1819 and its buying rate ₺55.0826 (announced ). At these rates a euro buys 1.1248 dollars, and over a year the euro has moved +13.0% against the lira.
What is the difference between the buying and selling rate?
The buying rate is what you get when you sell foreign currency for lira; the selling rate is what you pay when you buy it. For the dollar, TCMB’s are ₺48.9699 and ₺49.0582 today. That is why the converter turns a currency into lira at the buying rate and lira into a currency at the selling rate.
What is the difference between the transfer (döviz) and cash (efektif) rate?
The transfer rate applies to money moved between accounts, the cash (banknote) rate to notes changing hands. Notes cost more to handle, so the gap between buying and selling is wider. TCMB’s dollar selling rate is ₺49.0582 for transfers and ₺49.1318 in cash. It publishes cash rates for 12 currencies.
What is the currency basket (sepet kur)?
The basket is half a dollar plus half a euro, a common yardstick in Turkey for costs tied to both currencies. At TCMB’s selling rates it is ₺52.1201 today.
When are TCMB exchange rates announced?
Every business day at 15:30 Turkey time. The rates announced that afternoon apply to the next business day, so Friday’s rates stay in force over the weekend. There is no announcement on public holidays.
How many times has the dollar doubled against the lira?
Since its first quote of 2005, ₺1.3427, the dollar has reached 32 times that level; the latest step came on . Today it costs ₺49.06.
How much is the minimum wage in dollars?
The net minimum wage is ₺28,075.50 a month, about $572 at TCMB’s dollar selling rate today. In dollars it peaked at $654 in .
Is the Turkish lira cheap right now?
By the CPI-based real effective exchange rate, yes: at 105.0 in it stands 19% below its average of 129.5 since 2005, so after inflation the lira is cheaper than usual against its trading partners’ currencies. The index measures the past, not where the lira goes next.
What do economists expect for the dollar at the end of the year?
In TCMB’s Survey of Market Participants for , the expected year-end dollar rate was ₺51.57, +5.1% from today’s selling rate. It is a survey of expectations, not a promise: the chart above shows how far such forecasts have missed.
Where the rates come from
- TCMB indicative exchange rates
Buying and selling rates for transfers and cash, announced at 15:30 every business day and collected by Turkpidya as they appear.
- TCMB Electronic Data Delivery System (EVDS)
Daily selling rates since 2005, the CPI-based real effective exchange rate and the Survey of Market Participants’ year-end dollar expectations.
- Ministry of Labour and Social Security
The net minimum wage for each period since 2005.
Method
Rates are lira per one unit of each currency; the yen, quoted per 100, is converted to one. Changes compare today’s selling rate with the last rate in force on the same day a week, month, year or five years earlier. The converter turns a currency into lira at TCMB’s buying rate and lira into a currency at its selling rate; between two foreign currencies it buys the first and sells the second. The dollar’s doublings are the first days its rate reached 2, 4, 8… times its first quote of 2005. The minimum wage in dollars divides the net monthly minimum wage in force by each week’s last dollar selling rate. The real exchange rate’s average covers every month since January 2005. Forecast misses compare the rate on the last business day of each year with January’s survey expectation. Petrol and gold figures use today’s national petrol price and 24-carat gram gold price from those pages.