Turkish Lira (TRY)
The Turkish lira is a free-floating currency that has lost much of its value against the dollar over the past decade. The Central Bank of the Republic of Turkey sets policy, and inflation has remained high.
The latest available mid-market reference is 1 TRY = 0.01989 USD. The table below shows the same rate against the other major currencies.
Key facts
Structural details reviewed . Regimes and issuing arrangements can change.
The role of the Turkish Lira
Turkey sits between European and Middle Eastern markets and is a major exporter of cars, textiles and appliances. The lira is lightly used abroad and is traded mostly against the dollar and the euro.
A short history
The lira was introduced in 1923 and revalued in 2005, when six zeros were dropped. Turkey moved to a floating rate in 2001 after a banking crisis.
What moves the Turkish Lira
Central bank policy, inflation, the current account and domestic demand for foreign currency. The lira is also sensitive to political risk and to changes in economic policy direction.
Live TRY exchange rate
| Currency | 1 TRY equals |
|---|---|
| US Dollar (USD) | 0.01989 |
| Euro (EUR) | 0.017898 |
| British Pound (GBP) | 0.014965 |
| Japanese Yen (JPY) | 3.1727 |
| Chinese Yuan (CNY) | 0.1330 |
| Indian Rupee (INR) | 1.8667 |
| Canadian Dollar (CAD) | 0.028322 |
| Australian Dollar (AUD) | 0.029026 |
| Swiss Franc (CHF) | 0.016545 |
Mid-market rate updated . Banks and transfer providers add a margin. About our rates.
TRY conversion pages
Guides for Turkish Lira
Other currency profiles
Turkish Lira questions
What is the Turkish Lira?
Turkish Lira (TRY) is used in the following countries and territories: Turkey and Northern Cyprus. Central bank: Central Bank of the Republic of Turkey. Exchange rate regime: free float.
Which countries use the Turkish Lira?
The Turkish Lira is used in the following countries and territories: Turkey and Northern Cyprus.
What affects the Turkish Lira exchange rate?
Central bank policy, inflation, the current account and domestic demand for foreign currency. The lira is also sensitive to political risk and to changes in economic policy direction.