The official exchange rate between Turkey and the euro has surpassed 30 lira for the first time, according to an announcement by the country’s Central Bank. On November 3, the Central Bank set the official exchange rate of the euro for purchase at 30.02 lira and for sale at 30.14 lira. This marks a significant increase compared to the exchange rates set just a day earlier, with the euro being purchased at 29.8 lira and sold at 29.9 lira. It is worth noting that the exchange rates offered by Turkish banks may differ from the Central Bank’s rates.

For instance, Ziraat Bank currently sells euros for 30.7 lira and buys them for 29.6 lira, demonstrating the variation in rates across different financial institutions. In terms of the dollar, the official exchange rate set by the Turkish Central Bank is 28.39 lira for sale and 28.2 lira for purchase. Additionally, as per the Central Bank’s exchange rate, the value of the ruble equates to 0.3 lira.

The euro/lira exchange rate reached the 30 lira milestone in the Forex market on July 18, marking a significant moment. However, it subsequently experienced a decline, only to regain momentum and stay above the 30 lira mark in the past week. Looking back to November 2022, the euro was valued at approximately 18.1 lira. By January of this year, the exchange rate had climbed to almost 20 lira, while the dollar reached around 18.7 lira.

Overall, these fluctuations in exchange rates between Turkey and major currencies, such as the euro and dollar, reflect the constantly evolving economic landscape and highlight the importance of monitoring and understanding currency movements to mitigate potential financial risks.