The Central Bank of the Republic of Turkey (CBRT) has left its key interest rate unchanged. The CBRT retains the 17.00% benchmark for the 1-week repo rate, and this has led to some strengthening of the Lira against the US Dollar. The USDTRY is down 0.33% as of the time […]
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 Lira continues to extend its gains against the US Dollar, as cheap investment dollars now seeks emerging market currencies that have a higher interest rate and therefore are capable of producing a higher yield. This carry trade scenario appears to favour the Lira in its pairing with the US […]
The Turkish Lira has gained a modest 0.1% in its pairing with the US Dollar, after data released late Friday showed that Turkish Manufacturing Confidence grew from 106.8 in December 2020 to 107 in January 2021. This allowed the USDTRY to extend its downside slightly, following the bearish move that […]
The Turkish Lira gained strength for the 3rd straight session after the Central Bank of the Republic of Turkey (CBRT) left the interest rates unchanged at 17.00%. Further adding to the weakness of the USDTRY was the prevailing bearish sentiment on the greenback, as inflows pour into emerging market currencies […]
The USD/TRY is a little changed ahead of the Turkish Central Bank (CBRT) interest rate decision set for 11:0 GMT. The Turkish lira is trading at 7.4147, which is in the same range it was in the past few days. What’s happening: The Turkish Central Bank will conclude the meeting […]
The USD/TRY is falling for the second consecutive day ahead of the final CBRT interest rate decision. The weaker US dollar is also contributing to the strength of the Turkish lira. It is trading at 7.6340, which is 11% lower than the YTD high of 8.5681. What’s ahead: The Turkish […]
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.
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.