Turkey's lira crossed the 7.5 per USD level for the first time ever following Moody's downgrade last week and concerns about the ongoing standoff between Greece and Turkey over gas drilling in the Eastern Mediterranean. The ratings agency cut the country's sovereign rating deeper into junk territory, citing prospects of a balance of payments crisis and eroding public finances due to the coronavirus pandemic. The lira has lost over 20% against the greenback this year amid concerns about depleting foreign exchange reserves, inflationary pressures and a sizable current account deficit.

Historically, the Turkish Lira reached an all time high of 7.83 in August of 2020. Turkish Lira - data, forecasts, historical chart - was last updated on September of 2020.