The Turkish lira has hit a new all-time low, falling past the threshold of 50 lira per US dollar.

During trading on Wednesday, November 4, the USD/TRY exchange rate on the international Forex market rose by 0.2% to 50.02 lira per dollar, The Caspian Post reports, citing TradingView data.

The USD/TRY pair first crossed the 49-lira-per-dollar mark in September 2026. The Turkish currency has been depreciating against the dollar for several years, with the US currency gaining approximately 19% against the lira over the past 12 months.

To prevent a sharper and more abrupt weakening of the lira in the longer term, Turkish regulators are allowing the currency to depreciate at a faster but controlled pace. Central Bank of Türkiye Governor Fatih Karahan made this statement, as reported by Bloomberg in October. He also noted that the impact of currency depreciation on inflation has diminished as economic activity in the country is slowing simultaneously.

Karahan, whose term ends in February 2028, said he wanted to ensure that his successor would not feel compelled to resort to a devaluation of the lira, which would effectively reverse all the progress achieved so far.

According to sources, the central bank governor also indicated that the pace of the lira's depreciation needs to be adjusted to ensure that depositors and households continue to find returns denominated in the national currency attractive.