USDTRY Live Chart, Exchange Rate & Analysis | Trade USDTRY

Interesting facts about the USDTRY (US Dollar to Turkish Lira)

The USD/TRY currency pair is a good investment for professional traders. However, the pair requires comprehensive analysis. The Central Bank of the Republic of Turkey changes the interest rate often. High unemployment calls into question the stability and security of some regions of the country. This makes the Turkish lira highly volatile against the American dollar. As it’s important to analyze the country’s economy, you should know the largest industries that constitute GDP by sector: trade and services account for an average of 58% (hotel, restaurant, banking, etc.); 33% of GDP comes from industry (food, chemical, textile); developed agriculture yields about 9% (fruits, nuts, vegetables, sugar, grains).

You may be able to use old currencies in some countries, but this is not possible in Turkey. A new Turkish lira was introduced in 2005 and reintroduced in 2009. Due to the introduction of the 2009 series, 2005 banknotes are no longer accepted.

The American dollar originates from the time when the state gained independence. Since then, it has become a strong and influential currency. The American service sector, which is much more developed in comparison with Turkey, accounts for almost 80% of GDP. Industry accounts for just over 19%, while agriculture provides only 1.2% of US GDP.

One of the most important factors affecting the USD/TRY rate are real estate prices in Turkey (if they grow, the Turkish lira will get stronger, and the pair will fall and vice versa). It is also necessary to take into account the influence of international tourism: in summer, the Turkish lira grows stronger.

The best time to trade the USD to TRY pair is from 03:00 to 11:00, the Asian trading session, and from 15:00 to 00:00 (GMT+3, indicated in LiteFinance trading platform), the American trading session.