USD/TRY price today

The US dollar to Turkish lira rate (USD/TRY) shows how many Turkish lira one US dollar is worth. Unlike the major pairs, this is an "exotic" currency pair: it measures the currency of an emerging economy against the dollar and has its own behavior, costs and risks. On this page you can see the live USD/TRY rate, its candlestick chart and technical events, and further down you will learn about the lira's background, the factors that move it, the features of trading exotic pairs and the lira's link to the Iranian market.

What is the USD/TRY currency pair?

In USD/TRY, the US dollar is the base currency and the Turkish lira is the quote currency. For example, a rate of 30.0000 means one dollar equals 30 lira. A rising number means the lira has weakened, and a falling number means the lira has strengthened. On the long-term USD/TRY chart, the dominant direction over the past years has been upward, reflecting high inflation and the steady weakening of the lira.

Today's Turkish lira is the result of a currency reform: in 2005 Turkey removed six zeros from its national currency, and every one million old lira became one "new lira"; the "new" suffix was dropped a few years later. Even so, high inflation in the following years again wiped out a large part of the lira's value.

The Turkish lira and the Iranian market

Turkey is Iran's neighbor and one of its major trading partners, and for many Iranians it is a destination for travel, study, property purchases and trade. That is why the lira's Toman rate in the Iranian market matters in practice; you can see it on the Turkish lira price page. This rate is roughly the open-market dollar price divided by the USD/TRY rate; so if the dollar stays flat in Tehran but the lira weakens in the global market, the lira also gets cheaper in Toman. For someone whose expenses in Turkey are in lira, following both numbers helps build a more accurate picture of the real cost.

Factors affecting the dollar to lira rate

1. Inflation and the Central Bank of Turkey's monetary policy

The most important factor is the gap between Turkish inflation and the interest rate of the Central Bank of the Republic of Turkey (CBRT). In years when the interest rate was cut despite high inflation, the lira fell sharply, including in the 2018 currency crisis and the wave of weakness at the end of 2021. From mid-2023 the Central Bank of Turkey returned to more conventional policies and raised the interest rate dramatically. Any sign of a change in this course has an immediate impact on USD/TRY. You can see Turkey's interest rate alongside other countries on the global interest rates page.

2. Turkish inflation data

The Turkish Statistical Institute usually publishes monthly inflation in the first few days of each month, and this data is one of the most closely watched events for the lira. Follow the release times, along with interest rate decisions, on the Teagle economic calendar .

3. FX reserves and the current account deficit

Turkey is a major energy importer and usually runs a current account deficit; so oil and gas prices, tourism revenue and foreign capital inflows directly affect demand for foreign currency. The level of the central bank's FX reserves also shows its ability to control volatility.

4. Politics and geopolitics

Elections, changes of economic officials, relations with the US and the European Union, and regional developments have all been among the drivers of lira volatility. In exotic pairs, a piece of political news can have a bigger impact than any economic data.

Features of trading an exotic currency pair

The most important point is the swap . Because Turkey's interest rate is usually much higher than the US rate, holding a long USD/TRY position (selling lira) typically carries a heavy overnight cost, while a short position may earn a positive swap; but that swap gain is set against the risk of a sharp lira depreciation. Before holding a position, calculate the cost with the swap calculator and read the broker's swap terms.

Pip value in USD/TRY

This instrument's specifications are not the same across brokers; on many platforms a pip is defined as 0.0001, and its value for one standard lot (100,000 dollars) is 10 lira, which is converted to dollars by dividing by the USD/TRY rate. Because this rate is a large number, the dollar value of each pip is much smaller than in the major pairs, but the daily range in pips is also much larger. Before trading, check the contract specifications on your broker's platform and work out your position size with the trading calculator .

Best time to trade USD/TRY

Turkey does not observe daylight saving time, and Istanbul time is half an hour behind Tehran all year round. The lira's highest liquidity is seen during the business hours of banks and the Istanbul market, roughly from morning to late afternoon Tehran time, overlapping with the European session. After Turkish markets close and during the night, the spread is usually wider and sudden moves are more likely. See global market hours on the global market hours page.

USD/TRY in technical analysis

In a currency pair whose long-term trend has been shaped by inflationary pressure, classic technical tools should be used with caution. Long periods of slow, controlled movement can suddenly be broken by a multi-day surge, and support and resistance levels are of little use at such moments. The candlestick chart at the top of the page and the "Technical events" section show the overall picture, but for this instrument monetary policy news usually carries more weight.

Risk management tips for trading the lira

• Low leverage: The lira's history of falling several percent in a single day shows that high leverage is very dangerous on this instrument.
• Stop losses may be filled with slippage: With low liquidity and price gaps, the price at which a stop loss is filled can be far from the price you set.
• Weigh the total cost: A wide spread plus a heavy swap can wipe out a large part of the profit from short-term trades.
• Check your broker: Not all brokers offer USD/TRY on the same terms; compare them in the forex broker reviews section.

See other currency pairs in the list of forex market instruments . The information on this page is for informational purposes only and is not a recommendation to buy or sell; the rate shown comes from market data sources and may differ slightly from your broker's price. Trading with leverage carries high risk and you may lose part or all of your capital.