Turkish Lira

TRY

  • Convertible: Yes
  • Transferable: Yes
  • Exchange rate regime: Floating
Currency Reference Centre

Available Currency Pairs

EURTRY

View EUR

Transaction Types

FX SPOT
Delivery date: T+1; T+2
Liquidity: high
FX FORWARD
Maximum maturity: 24 months
Liquidity: medium

Did You Know?

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Monetary policy

  • The Türkiye Cumhuriyet Merkez Bankası (TCMB) is the central bank of Turkey: its main objective is to maintain price stability. In addition, it also supports the economic policy pursued by the Turkish Government.
  • Price setting method: the floating exchange rate regime is referred to as “supervised”. Indeed, the TCMB reserves the right to intervene on the foreign exchange market in case of excessive volatility of the Turkish currency.
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Features and highlights

  • Turkey abandoned the fixed exchange rate regime in 2001, allowing its currency to fluctuate in the foreign exchange market.
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Expert opinion

  • The TRY is one of the most liquid of the so-called emerging currencies, and is often used as an indicator of traders’ appetite for risk, within the CEEMEA area.
  • The Turkish currency is extremely volatile, and has thus experienced periods of sharp decline in recent years: the value of the EUR/TRY has more than quadrupled .between its lowest and highest value in the past 10 years.
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Regulations

There are no particular restrictions on the purchase and sale of TRY.

Important Information

PAYMENTS IN TRY TO TURKEY

The IBAN format is mandatory. Payment instructions must contain:

  • The SWIFT Code of the beneficiary bank.
  • The full name, address and IBAN of the beneficiary.

Keep In Mind

PUBLIC HOLIDAYS

New Year’s Day 1 Jan
Good Friday 30 Mar
Vesak Day 29 May
National Day 9 Aug
Deepvali 18 Oct
Lunar New Year 16 - 17 Feb
Labour Day 1 May
Hari Raya Puasa 15 Jun
Hari Raya Haji 22 Aug
Christmas Day 25 Dec

When a holiday falls on a weekend, the next business day becomes a holiday

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Currency Reference Guide

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Reference guide