TRY/NOK: what to know
The TRY/NOK rate shows how much NOK you get for 1 TRY. Right now, 1 TRY buys 0.1922 NOK at the mid-market rate. In the other direction, 1 NOK is worth 5.2034 TRY.
In the short term TRY is driven mainly by high inflation and central-bank policy, while NOK responds to oil and gas prices.
The Turkish Lira (TRY) is issued by Central Bank of Türkiye. In 2005 Türkiye removed six zeros: 1,000,000 old lira became 1 new lira. The Norwegian Krone (NOK) is issued by Norges Bank. “Krone” means “crown”.
Over the past 12 months the TRY/NOK rate has ranged between 0.1897 and 0.2436 — a change of -19.82% versus a year ago.
Use this mid-market figure as your benchmark: compare it with the rate your bank or broker quotes, and the difference is the margin you would pay.