# Barclays on USD/TRY: A New Phase for the Lira Begins

> Barclays said the Turkish central bank made a technical adjustment in October, lifting the lira's depreciation pace against the dollar from 1.6% to 1.8% a month, as USD/TRY tested a record above 50. Barclays expects the pace to hold unless global energy prices fall significantly. It also flagged a possible cut in the deposit withholding tax if current-account financing concerns grow.

- Date: 2026-11-03 · published 2026-11-03T15:13:38.890Z
- Category: macro · region Turkey · magnitude low
- Page: https://feedsoft.ai/events/77929-barclays-on-usd-try-a-new-phase-for-the-lira-begins
- Commodities: [Turkish Lira (TRY per USD)](https://feedsoft.ai/c/USDTRY.md)

## Why it matters

Faster lira depreciation raises the cost of imported feed ingredients for Turkish buyers and increases dollarization and reserve pressure. Any policy response could change domestic deposit flows.

## Read by commodity

- USDTRY: bullish ▲

## Sources

- paratic.com: https://paratic.com/barclaysten-dolar-tl-degerlendirmesi-kurda-yeni-donem-basladi/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.