Use this two-way calculator and chart to calculate amounts in either U.S. dollar or 1000 using
the real-time USD/TRY market mid-rate.
Then choose your transaction type
Foreign TransferTravel Money
to see the available exchange rates and reviews for our leading foreign exchange providers.
There are three important types of information that you need to know if you are to have any chance of getting the
best possible USD / TRY rate :
Market USD to TRY mid-rate - the starting point.
Transaction costs, these include exchange rate margins plus various types of fees. These margin and fee costs vary for
Foreign Transfers
and
Travel Money
transactions.
Right now the USD/TRY market rate is
and represents how many
Turkish lira
you can get for one U.S. dollar.
The USD/TRY mid-rate is the rate you will see
Quoted on Google
or the News, nobody except the largest banks and businesses can get exchange rates close to this mid-rate. It is actually just the theoretical half-way point (hence mid-rate) between
the last rate at which the USD / TRY was traded (bought or sold) in the international markets.
You can calculate with the current mid-rate using our
USD to TRY
calculator below but note the rate will most likely be quite different by the time you make you currency exchange.
2. Transaction Costs - Margins and Fees for USD/TRY Foreign Exchange
The transaction margin from the mid-rate you will be charged by your bank or foreign exchange provider plus any fixed or percentage fees. These margins and fees will vary significantly for International Money Transfers and Travel Money transactions.
USD to TRY Foreign Transfer - Costs Compared
You can see a sample of the margins from mid-rate in the table below which shows an example of the costs charged by FX specialist and the average bank rate when sending money transfers from USD to TRY.
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This is the amount of money that could be received by your transfer at rate USD/TRY=3.9804 and inclusive of the fee of USD 0. Rate timestamp : Sun Apr 22 2018 02:05:46 GMT+0000 (UTC)
This is the average USD to TRY International Transfer exchange rate and fees from multiple banks for FX rates available over the counter and also via Internet Banking.
The below table shows an example of the margins and possible savings when you order travel money online with a currency specialist versus the average bank, kiosk or post office rate to buy foreign cash.
Free Home Delivery when you Buy Online Travel Money & Cards with $0 commission and great exchange rates only available from Travelex Online. Zero cost for Home Delivery or pickup your foreign cash at your local Travelex store or at the airport on departure day. * Home deliveries can only be made to the registered billing address of your chosen payment method.
Amount of money that could be received by your currency exchange at rate USD/TRY=3.5424 and inclusive of the fee of USD 0. Rate timestamp : Sun Apr 22 2018 02:00:02 GMT+0000 (UTC)
This is the average USD to TRY Buy Foreign Cash exchange rate from multiple banks, exchange kiosks and post-offices, available over the counter and via the internet.
Getting a good market rate is mainly about timing however the transaction margin
you end up being charged can be considerably reduced by around a few percent (of total amount being exchanged) for
travel money
and possibly over 5% to 6% when sending money.
The exact potential savings depends on the currencies being exchanged and the amount
you are transferring and if you are willing to shop around.
Why can't I just get the same USD/TRY market rate I see on Google or in the Media?
When you look up the current U.S. dollar to Turkish lira exchange rate on the web the figure you find quoted on sites like google or mentioned on TV is commonly referred to as the mid-market rate.
USD to TRY mid-rate on google search
Getting a great USD to TRY mid-market rate is all about timing, so unless you
are able to wait, watch and time the market this is largely beyond your control.
This rate will go up and down with varying amounts of volatility depending on the currency pair.
This mid-market rate is really only a reference and is just the starting point for calculating the actual rate you will
get for your transaction, luckily we can also use this same rate to determine how good a deal a rate that a provider offers you actually is.
You can use the below
USD to TRY calculator to convert currency amounts using the latest mid-market exchange rates.
Then choose your transaction type for specific U.S. dollar cross rates and reviews of leading foreign exchange providers versus the Banks.
3. Currency News, Research and Forecasts for U.S. dollar and Turkish lira
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 is always determined quoted in comparison to another currency.
So it follows that if you are determining the best time to transact, in this case the USD vs TRY, you should pay attention to both U.S. dollar and Turkish lira news and forecasts.
U.S. dollar (USD) - Market news and forecasts
Against a basket of currencies, the U.S. dollar held steady in February and March – a welcome change considering the currency’s 15% fall in the preceding 13 months. However, any boost the greenback might receive from higher U.S. interest rates (the Fed hiked again in March) is likely to be offset by the longer-term consequences of U.S. trade tariffs, thinks a growing number of FX analysts. The latest round of tariffs include those on steel and aluminium imports and on $60 billion worth of Chinese goods, all aimed at boosting U.S. manufacturers.
The question of whether China in particular would take retaliatory steps on trade was a hot topic approaching the end of March. Analysts at Bank of America Merrill Lynch, BK Asset Management and Lloyds all said that the dollar would weaken on any escalation of trade tensions. In March, Lloyds reduced its dollar-euro year-end forecast to 0.8 (EUR/USD 1.25), from 0.82.
With trade on everyone’s lips and with traders uninspired by U.S. economic prospects, it is not surprising that the dollar’s trajectory has decoupled in 2018 from that of U.S. interest rate expectations. Despite yields climbing steadily this year, the dollar has sunk.
“It’s easy to see the weak-dollar story persisting,” said ING in February. The bank has forecast dollar-euro at just 0.77 at year-end (EUR/USD 1.3).
Turkish lira (TRY) - Market news and forecasts
The Turkish lira’s perpetual decline continues in 2018.
In March, USD/TRY breached the closely-watched 4.0 handle (4.034), marking yet another all-time low in the lira’s value and penciling in 2018 as the sixth calendar year from the past seven, and the ninth from the past thirteen, that a record low has been achieved.
Investors continue to be frightened away from the lira and from Turkish assets in general by inflation, which in 2018 continues to run in double figures. In the year to February, core inflation stood at an extraordinary 12%.
Given the Turkish central bank’s failure to act on inflation in the form of an increase to its benchmark interest rate, questions have been raised over the bank’s independence (President Erdogan is well known to hold a dislike for high interest rates).
Other issues weighing on the lira include Turkey’s current account deficit, which has more than doubled within the past year; a significant deterioration in US-Turkey relations, due to diverging foreign policies for conflict-engulfed Syria; and threats to global trade from new US tariffs.
Unless the Turkish central bank raises interest rates quickly, the lira is likely to continue underperforming according to analysts at XM and BNP Paribas.
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