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The euro just passed 45 lira, a record high. Compared to this time last year, the lira is about 30% weaker.
This isn’t a random spike. Several global and domestic factors are driving the euro upward and the lira downward.
If you’re sending euros to Turkey, now is an excellent time since you’re getting significantly more value.
If you’re sending lira to Europe, the cost is currently high and could rise further if the lira weakens more.
Keep an eye on the EUR/TRY exchange rate. If it stays at or above 45, that’s typically a favorable time for euro-to-lira transfers.
For lira-to-euro transfers, consider holding off unless urgent.
What’s driving the EUR/TRY exchange rate?
Global uncertainty is boosting the euro
Ongoing political tensions, particularly in the Middle East, including U.S. embassy alerts and military operations, have led investors to shift money away from riskier markets like Turkey and into safer assets such as the euro.
A weak U.S. dollar is supporting the euro
Lower-than-expected inflation data and the possibility of U.S. interest rate cuts have weakened the dollar.This has helped the euro rise across global markets, not just against the dollar, but also against emerging-market currencies like the Turkish lira.
Turkey’s ongoing economic challenges
Turkey is still facing high inflation and general economic instability.Despite the central bank raising interest rates in recent months, it hasn’t been enough to stabilize or reverse the lira’s long-term decline.
Technical picture (simplified)
Support level (floor): Around 44.25, if the euro declines, it may find support here and bounce.
Resistance level (ceiling): Around 46.00, this is the next major barrier if the euro continues to rise.
The recent sharp rally might pause briefly, but the longer-term trend is still upward.
Is it a good time to convert EUR to TRY?
If you’re sending euros to Turkey
Yes! You’re getting more Turkish lira per euro than ever before.
If the rate stays above 45, this could be one of the best opportunities in years to send money to family, make payments, or settle invoices.
If you’re sending lira to Europe
Unfortunately, you’ll need more lira to buy the same amount of euros.
If your transfer isn’t urgent, you may want to wait and see if the lira recovers slightly before proceeding.
Outlook for the next month
The euro is expected to remain strong through July 2025, supported by global uncertainty and a softening U.S. dollar.
Some short-term pullbacks are possible, watch for the 44.25 level as a potential support zone.
Unless there is a major shift in Turkish economic policy or a reduction in global tensions, the euro is likely to remain at or above current levels.
Risks to watch
Middle East developments: If tensions ease, investor appetite for emerging markets may return, potentially strengthening the lira.
Surprise policy from Turkey: Major rate hikes or other unexpected moves by the central bank could temporarily support the lira.
Eurozone risks: If the European economy shows signs of weakness or political instability, the euro could lose some momentum, but for now, it appears stable.
Live EUR/TRY exchange rates
Converting EUR to TRY
If you are planning to send EUR to Turkey, you need to pick the right money transfer company to get the most TRY on the other end.
Depending on your needs, it's best to use one of the following companies in July:
Money transfer company | EUR/TRY exchange rate | EUR/TRY fee | EUR/TRY transfer time | TRY received |
|---|---|---|---|---|
Wise (Best EUR/TRY rate) | 47.6381 EUR/TRY | 37.28 | en pocos minutos | 11,175.14 |
Key Currency (Lowest Fee) | 47.5161 EUR/TRY | 0 | minutos - 3 días | 332,612.57 |
Key Currency (Overall cheapest) | 47.5161 EUR/TRY | 0 | minutos - 3 días | 332,612.57 |
Wise (Fastest Option) | 47.6381 EUR/TRY | 37.28 | en pocos minutos | 331,690.75 |
*Based on our data of 7,000 EUR transfer from the Spain to Turkey in July 2025. For other amounts, please run a live search to get the best exchange rate.
History of the EUR to TRY pair
The euro to Turkish lira is a relatively popular cross-currency pair, thanks to the close relationship between the European Union and Turkey. Both countries play an important role in the global economy since they are members of the North Atlantic Treaty Organisation (NATO).
Turkey’s geographical location also plays a crucial role in the economy because one part of the country is in the Middle East while the rest is in continental Europe. As such, Turkey always had strong economic and social ties with European countries.
The EUR to TRY cross-currency pair was created when the European Union shifted to the Euro. Before that, trade between Turkey and European countries used to happen with their local currencies. Spain had Peseta while Germany, Italy, and France had Deutsche Mark, Italian lira, and French franc, respectively.
The overall trend of the EUR/TRY since its foundation has been upward as the Turkish lira has continued losing its value against most currencies.
| Date | 1 Euro in TRY |
|---|---|
| Jul 16, 2025 | 46.827302 TRY |
| Jul 17, 2025 | 46.855707 TRY |
| Jul 18, 2025 | 46.923174 TRY |
| Jul 19, 2025 | 46.897678 TRY |
| Jul 20, 2025 | 46.985470 TRY |
| Jul 21, 2025 | 47.270912 TRY |
| Jul 22, 2025 | 47.496934 TRY |
| Jul 23, 2025 | 47.647634 TRY |
| Jul 24, 2025 | 47.657852 TRY |
| Jul 25, 2025 | 47.637036 TRY |
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