1 TRY to USD - Convert Turkish Lira to US Dollar

Over the last 7 days, the TRY to USD exchange rate moved between 0.022000 and 0.023100. The average rate for the week was 0.022503, with a volatility of 1.42%. The Turkish Lira strengthened against the US Dollar by 1% during this period.

Looking at the 30-day window, the TRY/USD pair traded in a range of 0.021100 to 0.022500. The monthly average was 0.021780 with 1.78% volatility. The relatively low volatility indicates stable trading conditions for the TRY/USD currency pair.

The current mid-market exchange rate is 1 TRY = 0.021745 USD, updated as of June 4, 2026, 2:25 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.

Turkish Lira to US Dollar Exchange Rate

TRY/USD shows how many dollars one Turkish lira can buy, which at current rates is a fraction of a cent after years of dramatic depreciation. For Turkish exporters benefiting from cheap lira-denominated costs, the massive Turkish diaspora in Europe and the US sending money home, and foreign tourists who find Turkey extraordinary value, this rate captures one of the most dramatic currency stories of the 2020s.

The Depreciation That Changed Everything

The Turkish lira has lost over 80% of its value against the dollar since 2018, one of the steepest declines of any major economy's currency in modern history. A dollar bought roughly 4 lira in 2018; by 2024 it bought over 30. This depreciation was driven by unorthodox monetary policy (cutting interest rates during high inflation), political pressure on the central bank, and capital flight. For ordinary Turks, it meant imported goods (phones, cars, electronics) became painfully expensive while their savings lost purchasing power in international terms. For Turkish exporters, the weak lira made their products extraordinarily competitive globally. Turkish textiles, automotive parts, steel, and agricultural products gained market share as their dollar prices fell. For tourists, Turkey transformed from a moderately priced destination to one of Europe's best bargains. A quality restaurant meal in Istanbul costs 300-500 TRY (roughly $10-17), a fraction of comparable European cities. Hotels, domestic flights, and experiences are similarly affordable in dollar terms. The depreciation also triggered "lira-ization" policies where the government encouraged Turks to convert dollar savings to lira through protected deposit accounts.

What Drives the TRY/USD Rate

Turkish central bank interest rate decisions, inflation data, political developments, current account deficit, tourism revenue, diaspora remittances, Fed policy, and government economic policy direction are the main drivers. The lira's direction has been heavily influenced by presidential economic philosophy regarding interest rates.

What a Conversion Really Costs

Banks charge 1-3%. In Turkey, exchange offices (doviz burosu) offer rates within 0.5-1.5% of mid-market. ATMs are widespread. For diaspora remittances, online services charge 0.5-1.5%. The lira's volatility means the rate at the time of conversion matters more than for stable currencies. Checking rates immediately before converting is essential since TRY/USD can move 1-2% intraday.

How to Get the Best TRY to USD Rate

In Turkey, city-center exchange offices beat banks. Compare the mid-market rate on this page immediately before converting due to volatility. For transfers, online services are cheapest. Avoid airport and hotel exchanges. The lira's ongoing depreciation means converting TRY to USD sooner rather than later has generally been the right strategy, though timing exact moments remains unpredictable.