USD/TRY update & alerts
1 USD = 5.9391 TRY
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USD/TRY Exchange Rates and Providers Compared
This guide to the United States Dollar to Turkish Lira exchange rate with 90-day chart & alerts, historic rates, forecasts and USD to TRY comparison tables for foreign transfers and travel money rates and fees on offer by banks and foreign exchange providers. If you want to calculate equivalent amounts in foreign currencies or rate margins then use our USD/TRY Quick Calculator.
Exchange rates can vary significantly depending on the transaction type (transfer, cash or card), currency pair and amount. The below table shows an example of total costs charged by FX specialists and banks for USD/TRY International Money Transfers. Costs are calculated against the current interbank mid-rate.
| Foreign Transfer Providers | Receive TRY(₺) | Exchange Rate | Fee USD | Total Cost | Deal Links |
|---|---|---|---|---|---|
 | ₺58,649 Best Overall | 5.8649 | 0 | 1.25% | |
 | ₺56,984 ₺1,665 less | 5.6984 | 0^ | 4.05% | |
Banks - Average Rate     Average Bank Rate | ₺55,363 ₺3,286 less | 5.5687 | 15 | 6.78% |
Example of the margins and possible savings when you order travel money online with a currency specialist rather than in-person from banks and currency kiosks.
| Travel Money Providers | Amount TRY(₺) | Exchange Rate | Fee USD | Total Cost | Deal Links |
|---|---|---|---|---|---|
Banks - Average Rate Foreign Currency Average Bank Rate | ₺5,144.73 Compare | 5.1967 | U$10 | 13.38% |
USD and TRY in the Markets
When determining the best time to make a foreign exchange transaction, in this case the USD vs TRY, you should pay attention to the recent market trends for both currencies.
United States Dollar (USD)
The US dollar held its value in 2019 despite a serious escalation in US-China trade tensions, mainly because the greenback is still considered a safer currency to own than most others.
At its October meeting the Federal Reserve cut the target range for the federal funds rate to 1.5-1.75 percent, the third rate cut so far this year, amid soft inflation indicators and general worries about the economy. However the central bank also signaled a pause in the easing cycle.
Taking the blame for the economic downturn is US President Donald Trump, whose trade war policies have set a ball rolling that could wipe $455bn from global output according to the IMF.
For more USD bank forecasts and cross-rate trends read the report USD trends and forecasts.
Read more in the article USD Forecasts.
Turkish Lira (TRY)
In the second half of April, the lira slipped to its weakest level in 6 months against the dollar, at ₺5.83. It was 11.5 percent lower than its strongest level from January, but was 21.5 percent higher than its 2018 low (2018 was a crisis year for the lira).
In April, Turkey described a reform package aimed at lifting the economy out of recession. The package included billions injected into banks, reduced tax exemptions, lower corporate tax rates and a crackdown on the shadow economy; however, ratings agencies did not see many positives in the plans due to inadequate details.
TradingEconomics.com sees the lira quoted 5 percent weaker against the dollar in April 2020, at ₺6.14.
Why can't I just get the USD/TRY market rate I see online or in the media?
The mid-rate is the rate you will see quoted online or the news. It is actually just the half-way point (hence mid-rate) between the last rate at which the USD / TRY was traded (bought or sold) in the international markets.
All foreign exchange providers charge a fee for providing their service and this fee is usually contained within the exchange rate margin (or difference to the mid-rate). Some providers such as Transferwise will quote you the mid-rate (or close to) and charge a separate percentage fee.
Our real-time foreign transfer and travel money/cards comparison calculators make shopping around easy and help you calculate how much you can save.
We help you Compare & Save Money on Exchange Rates.
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