1 USD to TRY - Convert US Dollar to Turkish Lira

Over the last 7 days, the USD to TRY exchange rate moved between 47.2461 and 48.9956. The average rate for the week was 48.1200, with a volatility of 1.13%. The US Dollar weakened against the Turkish Lira by 0.2% during this period.

Looking at the 30-day window, the USD/TRY pair traded in a range of 46.6040 to 49.8831. The monthly average was 48.3029 with 1.78% volatility. This upward movement of 2.5% suggests significant momentum in the USD/TRY exchange rate.

The current mid-market exchange rate is 1 USD = 48.1625 TRY, updated as of August 28, 2026, 10:28 AM UTC. Mid-market rates represent the fairest available rate and are the midpoint between buy and sell prices on global currency markets. Actual transaction rates from banks or money transfer services may include a markup above this rate.

US Dollar to Turkish Lira Exchange Rate

USD/TRY is one of the most volatile major currency pairs in the world. The Turkish Lira has lost over 80% of its value against the dollar in the past five years, turning this pair into a daily concern for Turkish businesses, importers, and anyone with savings denominated in lira. For the large Turkish diaspora in Europe and the US, the rate determines how far their money stretches when sent back home.

How a Currency Lost 80% in Five Years

In 2019, one dollar bought about 5.5 lira. By early 2024 it was over 30, and the slide has continued since. The cause was a combination of unconventional monetary policy, where interest rates were cut while inflation was rising, plus high external debt denominated in foreign currencies. When inflation hit 85% in late 2022, the lira was in freefall. A return to orthodox monetary policy in 2023 slowed the decline but has not reversed the damage. For Turkish families, the price of imported goods from electronics to fuel has multiplied several times over.

What Drives the USD/TRY Rate

Turkish central bank interest rate decisions dominate. Rate hikes attract foreign capital and support the lira, while cuts or political interference push it down. Inflation data, current account deficits, foreign reserve levels, and geopolitical risks in the region all factor in. On the dollar side, Fed policy and global risk appetite matter. When global investors get nervous, they pull money out of emerging markets like Turkey first.

What a Conversion Really Costs

Because of the lira's volatility, spreads on USD/TRY conversions tend to be wider than on major pairs. Banks in Turkey may offer rates 2-5% worse than mid-market. Transfer services from abroad vary significantly. For someone sending $1,000 to Turkey, a 3% markup means roughly 900 lira less received at current rates. Timing also matters more with this pair since the rate can move 2-3% in a single day.

How to Get the Best USD to TRY Rate

With a pair this volatile, checking the live rate right before you convert is critical. Use the rate on this page as your benchmark. If your provider is more than 1.5% off mid-market, look elsewhere. Consider setting a rate alert for your target rate, since USD/TRY swings enough that a favorable window may appear within days.