TRY/USD: what to know
The TRY/USD rate shows how much USD you get for 1 TRY. Right now, 1 TRY buys 0.0212 USD at the mid-market rate. In the other direction, 1 USD is worth 47.1972 TRY.
In the short term TRY is driven mainly by high inflation and central-bank policy, while USD responds to Fed policy, US growth and global risk appetite.
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 US Dollar (USD) is issued by Federal Reserve (Fed). Most of the world’s central-bank reserves are held in US dollars.
Over the past 12 months the TRY/USD rate has ranged between 0.0212 and 0.0247 — a change of -14.33% 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.