Exchange rates in TRNC: Lira remains under pressure on the free market

The high cost of major foreign currencies against the Turkish Lira persists in the TRNC foreign exchange market.

As of this morning, the US Dollar rate on the free market stands at 45.18–45.19 Turkish Liras. The European currency, the Euro, is trading in the range of 52.70–52.80 Liras, and the British Pound Sterling is at 60.87–60.92 Liras.

Thus, all major currencies continue to hold at high levels, reflecting pressure on the Turkish Lira and ongoing market volatility.

Economists note that such dynamics have a direct impact on the cost of living in the TRNC, as most goods, including fuel and food, are import-dependent and tied to foreign currency.

The difference between buy and sell rates remains minimal, indicating a stable but tense market condition. At the same time, market participants are closely monitoring external economic factors and Turkey's policy, which continue to play a key role in shaping the Lira's exchange rate.

In the near term, experts do not rule out further fluctuations, especially against the backdrop of global economic uncertainty and rising energy prices.