USDTRY is lower for a third straight day but the pair is looking to secure a low after France prepared to pursue sanctions against the country. France are expected to propose the measures next month, alongside Greece and Cyprus but have been unable to get the backing of other EU governments.
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 USDTRY has soared in the last two weeks with the Lira gaining 12% against the greenback on interest rate hikes. The move marked a wholesale change of strategy from the CBRT and the Lira could gain further as U.S. election confusion continues. This week saw the Turkish bank hike […]
The CBRT raises interest rates by 475 bps. Sign up to find out how the USDTRY responded.
How would a 500 bps rate hike by the CBRT affect the Lira? Sign up to find out more.
The USDTRY jumped 2.3% on Monday after a leadership reshuffle that traders hope will lead to higher interest rates for the Turkish economy. The drama began over the weekend after the Turkish President Recep Erdogan fired his central bank Governor Murat Uysal. This was followed by the resignation of Finance […]
News flash: Turkey’s President, Recep Erdogan has reportedly fired Central Bank of Republic Governor Murat Uysal, barely 15 months into his tenure. News sources such as IG Squawk are quoting an official gazette as the source of the news report. This could have major implications of the Turkish Lira, which […]
The USDTRY has stalled at the 8.50 level as uncertainty over the U.S. election continues. The media claims Joe Biden is one state from victory, but President Trump has claimed some of the contested states and wants the Supreme Court to intervene. The election confusion has given traders a reason […]
The USDTRY price is up by 0.70% today, pushing the Turkish lira to the lowest level on record. The pair is trading at 8.4832. The Turkish lira has been under pressure in the past few years. The currency has dropped by more than 40% against the British pound and by...
The USDTRY slid 1% to a fresh record low of 8.30 versus the U.S. dollar after the Turkish central raised its inflation target to 13.5% for the year-end. The currency has been under pressure since July after a series of negative events such as the Armenia situation and debt downgrades […]
The Central Bank of the Republic of Turkey (CBRT) stood pat in today’s interest rate decision, leaving interest rates unchanged at 10.25% and sending the USDTRY to test all-time highs above 7.97. This decision followed last month’s rate increase, the impact of which has since faded and given way to geopolitical […]