ForexMedium•4 November 2026•
1 min read
Turkish Lira Hits Record Low Near 50 Per Dollar Following Rate Cuts
Key Facts
1The Turkish lira hit a new record low with the dollar buying approximately 50 lira on November 4.
2Long USD/TRY positions face an interest-rate gap of roughly 32 percentage points following Turkey's October rate cut.
The Turkish lira hit a new record low with the dollar buying approximately 50 lira on November 4, 2026. Benzinga reported that long USD/TRY positions face an interest-rate gap of roughly 32 percentage points following Turkey's interest rate cut in October.
The currency depreciation follows data released on November 3, 2026, showing Turkey's annual inflation rate rose to 29.77%, exceeding the 29.56% forecast. Additionally, the balance of trade recorded a deficit of $6.7 billion on the same date, wider than the anticipated $5.5 billion deficit, compounding the economic pressure on the lira.