When you are thinking about sending money abroad, an international money transfer provider is a great option. They can help you with the whole process, provide useful online tools and most importantly bank-beating exchange rates and low or zero fees.
This is the current MKD-TRY mid-market exchange rate. The Total Cost of each foreign transfer in the above table is calculated as the sum of all fees and the exchange rate margin, which is the difference between the provider's exchange rate and the mid-market MKD-TRY exchange rate.
Whenever you are interested in an exchange rate you are actually interested in two currencies due to the fact that the value of a currency must always be quoted in comparison to a second currency.
So it follows that if you are determining the best time to transact, in this case the MKD vs TRY, you should pay attention to both Macedonian Denar and Turkish Lira news and forecasts.
No recent Macedonian Denar market updates.
12-February-2019: The lira has been remarkably stable since December, having floated between 5.15 and 5.55 per dollar, with a few brief exceptions.
Though the lira is considerably stronger than its August ’18 extreme, it is still worth nearly 30 percent less than it was a year ago. In mid-2018, the lira weakened beyond 7 to the dollar (a record low), shocking investors.
From here on in, the lira stands to appreciate, or will at least be among the best performing emerging market currencies of 2019, says an analyst at ING. The analyst said in February that the lira was “the most undervalued in the whole emerging market space.”
With the US Federal Reserve now likely to slow the pace of its interest rate hikes, or stop them, the dollar is forecast to weaken, and emerging market currencies typically gain value in such conditions because their respective governments usually hold high levels of dollar-denominated debt, which becomes easier to repay when dollars are cheaper.