Turkish Lira (TRY) Exchange Rates Today
Live rates, 30-day trends, and real talk about what banks charge you for Turkish Lira.
Mid-market rate - no bank markup 200+ currencies Free
What is the Turkish Lira?
TRY has experienced significant depreciation in recent years. Turkey's high inflation and unconventional monetary policy decisions create notable volatility.
Symbol: ₺ ISO code: TRY Central bank: Central Bank of Turkey (TCMB)
BIS ranking: 18th most traded (the 18th most bought and sold currency worldwide) Used in: Turkey
This page is a hub for all TRY exchange rates on our site. Use the converter above to check the current mid-market rate for Turkish Lira against any supported currency, or scroll down to browse individual pair pages with 30-day charts, historical data, and conversion tables.
How the Turkish Lira exchange rate works
Free float with high depreciation
The Turkish Lira is a free-floating currency, but it has experienced persistent depreciation driven by high inflation and monetary policy decisions by the Central Bank of Turkey. Between 2018 and 2024, TRY lost over 80% of its value against USD.
What this means for you: If you are converting to TRY, your purchasing power in Turkey may be significantly higher than you expect. If you hold TRY, the rate has historically moved against you over time - but past performance does not guarantee future results.
How Turkish Lira is commonly exchanged
The Turkish Lira has experienced significant depreciation in recent years due to high inflation and unconventional monetary policy. USD/TRY is the dominant pair. Turkey's strategic location bridging Europe and Asia generates trade-related conversion demand, and its large tourism industry creates seasonal TRY demand.
Most TRY conversions pass through one of the major pairs listed below. For less common combinations, rates are computed as cross-rates through USD or EUR, which may carry a slightly wider spread.
Practical notes for Turkish Lira
Travel and card conversions
If you are spending in Turkish Lira, a card with no foreign transaction fee is typically the best option. Always choose to be charged in TRY (the local currency) at point of sale - selecting your home currency triggers Dynamic Currency Conversion, which adds an unnecessary 3-6% markup to your transaction.
Weekend and holiday pricing
Currency markets close Friday at 5pm Eastern and reopen Sunday at 5pm Eastern. During this window, the rate you see is Friday's closing price. Some providers widen their spreads on weekends. If your conversion is not urgent, waiting until Monday often means a tighter spread and a rate that reflects current market conditions.
Bank spreads
As a less liquid currency, TRY spreads at banks and exchanges tend to be wider than for major currencies - sometimes 4-6% at banks and up to 15% at airport counters. Online transfer services usually offer much tighter spreads for TRY.
The Central Bank of the Republic of Turkey (TCMB) and the Turkish Lira
The Central Bank of Turkey (TCMB) targets 5% inflation but has struggled with much higher rates. Policy credibility has been a recurring challenge.
Policy tool: The one-week repo rate. Turkey's monetary policy has at times been unconventional, with rate cuts during high inflation periods.
Key data releases: Turkish CPI, current account balance, and TCMB rate decisions. Political statements about monetary policy can also move TRY.
Moments that shaped the Turkish Lira
Redenomination (2005)
Turkey dropped six zeros from the lira on 1 January 2005, replacing the old Turkish Lira (TRL) with the New Turkish Lira (TRY). At the time, $1 bought about 1.35 million old lira. The redenomination was part of Turkey's economic reform program.
2018 currency crisis
TRY lost nearly 30% against USD in August 2018 alone, triggered by a diplomatic dispute with the US, concerns about central bank independence, and Turkey's large current account deficit. The crisis pushed inflation above 25%.
Did you know?
- Turkey dropped six zeros from its currency in 2005. Before the redenomination, a cup of coffee cost about 3 million old Turkish lira.
Frequently asked questions
What is the TRY exchange rate today?
The live mid-market rate is shown in the converter above. It updates every 60 seconds during market hours (Sunday 5pm ET through Friday 5pm ET). Scroll down to see TRY rates against all supported currencies.
What is the mid-market rate for Turkish Lira?
The mid-market rate is the midpoint between wholesale buy and sell prices - the fairest benchmark before any provider adds markup. It is the rate shown on this page. Your bank or service will offer a different rate that includes their margin.
How is TRY performing this month?
Use the converter above and click through to any pair page to see the 30-day range bar, which shows where today's rate sits relative to the recent trend. The rate statistics panel shows 30-day low, high, average, and volatility.
Where can I find historical TRY rates?
Click on any pair page below and scroll to the history chart. You can view 7-day, 30-day, or 1-year history with daily rates. Use the date picker to look up a specific historical date.
What affects the value of Turkish Lira?
Central bank interest rate decisions from the Central Bank of Turkey (TCMB) are typically the largest driver. Inflation data, economic growth figures, trade balances, and political stability also matter. On a day-to-day basis, scheduled economic data releases and central bank communication can cause noticeable moves.
Why do different sites show different TRY rates?
Different providers use different data sources, update at different times, and may show rates that already include their markup. The mid-market rate (shown here) is the most neutral benchmark. If a site shows a rate that is noticeably worse, that difference is likely their margin built into the number.
How is the TRY exchange rate set?
Most exchange rates are determined by supply and demand in the global forex market, where banks, funds, and corporations trade currencies 24 hours a day on weekdays. Interest rate differentials between central banks are the biggest long-term driver. No single entity "sets" the rate - it emerges from millions of transactions.
Learn more
- TCMB - Exchange Rates - Official Central Bank of Turkey daily rates
- IMF - Turkey Country Page - Economic outlook and policy assessments
TRY rate statistics
Turkish Lira rate context
We compare the current Turkish Lira exchange rate against its recent trading range to help you decide whether now is a good time to convert. The live analysis updates throughout market hours.
Rate analysis updates when live data is available.
Forex Market Hours
The forex market is open 24 hours a day, five days a week. Trading passes between these major financial centers as the world turns.
| Market | Timezone | Local Time | Status |
|---|---|---|---|
| 🇦🇺 Sydney | AEST | — | — |
| 🇯🇵 Tokyo | JST | — | — |
| 🇬🇧 London | GMT/BST | — | — |
| 🇺🇸 New York | ET | — | — |
All TRY Currency Pairs
Live exchange rate pages for Turkish Lira against every supported currency.