The Central Bank of the Republic of Turkey (CBRT) has, as expected, left the 1-week repo rate unchanged at 19%. As a result, the USD/TRY continued its corrective move, stretching this into the 5th day. Downside risks to consumer inflation in Turkey could provide the bank with the leeway it […]
In this section, you will find important USDTRY news, actionable trading ideas, and a live USDTRY chart to help you understand how the Turkish Lira trades vs. the US Dollar.
USDTRY is the ticker symbol in FX markets that represents how many Turkish liras you can buy with one US dollar. The factors that affect USDTRY are the interest rates, the GDP growth, inflation, unemployment rates, balance of payments and other macroeconomic figures. The US Federal Reserve Bank and Central Bank of the Republic of Turkey are the two institutions that USDTRY traders follow in order to get an idea about the future moves of the pair. The new Turkish lira was introduced in 2005 following a massive devaluation of the previous lira value. USDTRY is a high volatility pair and price gaps happen very often as the Turkish economy is fragile.
Live USDTRY Chart
The USD/TRY declined intraday as the Central Bank of the Republic of Turkey (CBRT) raised the reserve requirement ratios for foreign currency deposits to dry up demand for external currencies in favour of the Lira. The Lira gained 0.53% against the greenback and looked set for the second day of […]
The Central Bank of the Republic of Turkey (CBRT) has elected to keep the interest rate in Turkey unchanged at 19.00%, matching market expectations. The bank’s rate statement reiterated that the current tight monetary stance would stay until it achieved a significant drop in the inflation rate trajectory that was […]
USD/TRY is on a bearish consolidation pattern ahead of the Turkish retail sales. In the prior release, TURKSTAT indicated that retail sales had risen by 19.2% on a year-on-year basis. That was a significant surge from April’s 4.7%. On a month-on-month basis, the retail sales were up by 5.1% in […]
USD/TRY has eased after Turkey’s President Erdogan made remarks that pushed the pair to its all-time high on Tuesday. Late on Tuesday, the Turkish leader hinted at interest rates cuts in the coming summer months despite the high inflation. Interestingly, the president fired central bank’s governor Naci Agbal for tightening […]
The USD/TRY hit new record highs this Wednesday after President Recep Erdogan of Turkey hinted at future rate cuts. The Central Bank of the Republic of Turkey (CBRT) meets later this month, and TD Securities’ economists are already banking on a 350bps easing cycle by August, starting with a 100bps […]
USD/TRY has eased ahead of the Turkish GDP data on Monday. Analysts expect the country’s economy to have expanded by 6.7% in the first quarter and 5.5% on a year-on-year basis. Last week, President Recep Erdogan noted that passed on preliminary data, the released GDP numbers would highlight strong economic […]
The USD/TRY price is little changed today even after Recep Erdogan changed the composition of the Central Bank of the Republic of Turkey (CBRT). The Turkish lira is trading at 8.4220 against the US dollar. USD/TRY news: In a surprise move, Turkey’s president, Recep Erdogan replaced Oguzgan Ozbas as the […]
USD/TRY is on a consolidation pattern ahead of the Turkish retail sales. Investors will be keen on whether the released numbers will come in higher than the previous 4.6% YoY and 3.4% MoM. The data comes a few days after the CBRT interest rate decision. The central bank left the […]
USD/TRY is on a bearish consolidation pattern ahead of the CRBT one-week repo rate decision. On Monday, TURKSTAT released lower-than-expected CPI data. According to the institute, the CPI rose by 17.14% YoY compared to the forecasted 17.30%. The figure was also lower than the previous 16.19%. At the same time, […]