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, […]
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
USD/TRY is trading lower early on Monday ahead of Turkey’s inflation data. The numbers come at a time when President Tayyip Erdogan and central bank’s governor Sahap Kavcioglu have insisted that hiking interest rates will only hurt the economy. In the quarterly inflation report released last week, the country’s central […]
USD/TRY is at its highest level this month. The market is reacting to President Biden’s announcement and comments by central bank’s governor Sahap Kavcioglu. On Friday, the US president stated that his government recognizes the 1915 mass murders of Armenians in the Ottoman Empire as a genocide. Subsequently, investors are […]
The Central Bank of the Republic of Turkey (CBRT) held interest rates at 19.00%, in the first meeting presided over by the new Governor Sahap Kavcioglu. In the first policy statement by the bank after the firing of the hawkish Naci Agbal on March 20, the CBRT noted that inflation […]
USD/TRY has been range-bound since the beginning of April. The pair’s price movement has largely been influenced by the US dollar and bond market. After hitting its highest level in over a year at 1.77 at the end of March, the benchmark US 10-year bond yields have declined to the […]
It has been the end of a turbulent week for the Turkish Lira, and the USD/TRY looks set to end higher for the week. The pair has reclaimed 4-month highs after a devastating blow deal to the Lira by the Turkish President Recep Erdogan, who sacked Naci Agbal as Governor […]
The USD/TRY is at an important support level as investors continue reacting to the recent firing of Naci Agbal as the CBRT governor. It is trading at 7.8115, which is slightly higher than the March 9 high of 7.7860. What happened: On Saturday morning, Turkey’s president, Recep Erdogan sent shockwaves […]
USD/TRY began the week at its highest level since November 2020. The pair hit a high of about 8.50 before pulling back to its current 7.90. This marks a drop of close to 15% of the Turkish Lira against the greenback. The abrupt surge of the pair is the market’s […]
The Central Bank of the Republic of Turkey (CBRT) has raised its 1-week repo rate to 19.00%. The 200 basis points rate hike by the CBRT thus surpassed the expectation of analysts, who had forecast a rate hike of 100 basis points to 18%. As a result of the hawkish […]
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 […]