
Turkish Lira
TRY
- Convertible: Yes
- Transferable: Yes
- Exchange rate regime: Floating
Available Currency Pairs

EURTRY
Weergeven EURTransaction Types
FX SPOT
Delivery date: T+1; T+2
Liquidity: high
FX FORWARD
Maximum maturity: 24 months
Liquidity: medium
Did You Know?
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.
Features and highlights
- Turkey abandoned the fixed exchange rate regime in 2001, allowing its currency to fluctuate in the foreign exchange market.
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.
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 Mrt
Vesak Day 29 Mei
National Day 9 Aug
Deepvali 18 Okt
Lunar New Year 16 - 17 Feb
Labour Day 1 Mei
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
Useful Links
Currency Reference Guide
Get the full currency reference guide, updated by the iBanFirst currency market experts
Reference guide