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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
USDTRY continues almost unchanged after the Central Bank of Turkey cut the interest rates by 50 basis points to 8.25% from 8.75% surprising markets. CBRT cut the interest rate for ninth consecutive meeting the last 12 months.
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USDTRY continues the correction from two-year highs as the Turkish economy gradually reopens and major Turkish banks managed to roll over their debts in May.
USDTRY correction continues for the fourth consecutive session as Turkey gradually eases the coronavirus lockdown. As more and more businesses reopen the sentiment improves for the TRY.