The US dollar (USD/TRY) has surpassed 36 TL for the first time, reaching an all-time high as markets react to former U.S. President Donald Trump’s new tariff policies, which have ignited fresh trade war concerns. Rising global uncertainty has driven investors toward safer assets, causing the Turkish lira to weaken further. The dollar hit a record high of 36.0015 TL due to increased risk aversion in the markets.
Euro/TL Approaches 37 Amid Exchange Rate Fluctuations
The Euro/TL exchange rate is trading at 36.90, influenced by the decline in the euro-dollar parity.
Inflation Data Also Weighs on the Market
According to the Turkish Statistical Institute (TÜİK), Türkiye’s inflation rate surged by 5.03% in January, exceeding expectations. Annual inflation fell to 42.12%, marking a 1.5-year low, but the monthly inflation rate hit an 11-month high.
The combination of Trump’s trade policies, market uncertainty, and inflation concerns continues to exert pressure on the Turkish lira, leading to new record highs in USD/TRY and EUR/TRY exchange rates.
Source: Patronlar Dünyası/ Prepared by: İlayda Gök