USD to TRY in 2025: the year in numbers
Updated September 26, 2026
The dollar averaged 39.57 Turkish lira in 2025, calculated from 255 ECB-based cross rates. That was 20.38% above the 2024 average of 32.87. The year's path was remarkably regular: the dollar's lowest fixing was the first one, 35.319 on January 2, and its highest was the last one, 42.965 on December 31. Over the year the dollar gained 21.65%.
A controlled, month-by-month slide
USD/TRY in 2025 looks different from most currency pairs. Instead of rising and falling, the rate climbed almost every week. Monthly averages went up in every month without exception, from 35.551 in January to 42.677 in December.
Monthly ranges were narrow for such a large yearly move. Every month except March moved by less than one lira from low to high. March was the exception, with the rate travelling from 36.424 to 38.01, the largest monthly range of the year.
Nine months closed at their monthly high; the exceptions were March, June and October. For a business revaluing dollar balances at month end, the closing rate was almost always the highest rate of that month.
USD/TRY by month, 2025
| Month | Average | Low | High | Last rate |
|---|---|---|---|---|
| January | 35.551 | 35.319 | 35.856 | 35.856 |
| February | 36.199 | 35.894 | 36.518 | 36.518 |
| March | 37.168 | 36.424 | 38.01 | 37.947 |
| April | 38.141 | 37.911 | 38.475 | 38.475 |
| May | 38.828 | 38.568 | 39.241 | 39.241 |
| June | 39.451 | 39.12 | 39.885 | 39.734 |
| July | 40.238 | 39.767 | 40.594 | 40.594 |
| August | 40.836 | 40.642 | 41.134 | 41.134 |
| September | 41.332 | 41.115 | 41.583 | 41.583 |
| October | 41.856 | 41.592 | 42.084 | 42.049 |
| November | 42.292 | 42.048 | 42.496 | 42.496 |
| December | 42.677 | 42.414 | 42.965 | 42.965 |
How fast did the lira lose value?
Dividing the year into quarters helps:
- First quarter: from 35.551 in January to 37.168 in March, with the March jump.
- Second quarter: from 38.141 in April to 39.451 in June.
- Third quarter: from 40.238 in July to 41.332 in September.
- Fourth quarter: from 41.856 in October to 42.677 in December.
The pace slowed towards the end of the year. The gap between consecutive monthly averages was smaller in the autumn than in the spring.
What it meant in practice
Budgets in lira. Any cost priced in dollars, from imported fuel and machinery to software subscriptions, rose steadily in lira. Businesses that set one exchange rate for the whole year found their budgets outdated within weeks.
Pricing. Many Turkish firms quote prices in dollars or index them to the dollar, precisely because the lira moves in one direction.
Savings and wages. Households that kept savings in dollars protected their value in lira. Wages paid in lira buy fewer dollars than a year earlier.
Visitors. Tourists from the United States found Turkey cheaper in dollar terms through the year, as long as prices in lira rose more slowly than the dollar.
A useful rule of thumb
When a currency moves this steadily, the date of a payment matters less than the month. A dollar invoice paid on the last day of a month in 2025 usually cost more lira than one paid on the first day, because the rate climbed within almost every month.
Using the figures
For annual accounts where ECB-based rates are acceptable, use the yearly average of 39.57 for income and expense items and the year-end rate of 42.965 for balances. For comparison with the euro, see the EUR/TRY figures, which rose even faster in 2025 because the euro also gained on the dollar.
What to do
- See every month on USD/TRY in 2025: monthly table.
- Compare the first and last month on USD/TRY in January 2025 and USD/TRY in December 2025.
- Check the USD to TRY exchange rate today before setting prices or budgets.
- Update the budget rate for dollar costs every month, following the monthly average from the table.
Questions and answers
What was the average USD to TRY rate in 2025?
The dollar averaged 39.57 lira in 2025, across 255 ECB-based cross rates, 20.38% above the 2024 average of 32.87.
What were the low and high of USD/TRY in 2025?
The low was 35.319 on January 2 and the high 42.965 on December 31, the first and last fixings of the year.
Did the dollar rise against the lira every month in 2025?
Yes. Each monthly average in 2025 was higher than the one before, from 35.551 in January to 42.677 in December.