United States Dollar to Turkish Lira - Convert Compare Save
The total cost you are charged by your foreign exchange provider consists of the margin from the mid-rate offered plus any fixed or percentage fees.
These margins and fees vary significantly for International Money Transfers and Travel Money transactions as shown below.
Compare USD/TRY Exchange Rates
The below table is a snapshot of the costs charged by FX specialists and banks for USD/TRY International Money Transfers. Costs are calculated against the amount when USD is converted to TRY at mid-rate.
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56,883 TRY
Best Overall
5.6883
0^
2.11%
Bank Transfers - Online & Phone, Foreign Currency Accounts
The below table shows a snapshot 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.
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Right now the USD/TRY interbank exchange rate is 5.8112.
It’s also called the mid-market rate or just the mid-rate and is the rate that banks use when trading large amounts of foreign currencies with one another.
It's the reference rate we use to calculate how much you are being charged to convert Turkish Lira to United States Dollar.
This USD/TRY Converter calculates equivalent United States Dollar to Turkish Lira amounts at the market mid-rate.
You can also enter your own rates to find out the percentage difference to the latest market rates you are being charged.
United States Dollar to Turkish Lira (USD-TRY) - 10 Year History
The below table shows the historic variation in the USD/TRY exchange rate over the last 10 years.
The percentage change is the difference from the date shown to present. This lets you decide if the current rate is in your favour.
You can also view our various charts of USD versus other currencies : USD historical charts.
Date
Exchange Rate
Period
Change
20 Apr 2019
5.8112
Latest
13 Apr 2019
5.7754
1 Week
+0.62%
21 Mar 2019
5.4675
1 Month
+6.29%
22 Oct 2018
5.6669
6 Months
+2.55%
20 Apr 2018
4.0760
1 Year
+42.57%
20 Apr 2017
3.6416
2 Years
+59.58%
21 Apr 2014
2.1320
5 Years
+172.57%
22 Apr 2009
1.6431
10 Years
+253.67%
Why can't I just get the USD/TRY market rate I see on Google or in the Media?
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.
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.
The closer your final exchange rate is to the market USD/TRY midrate the better deal you are getting.
The three things you need in order to get a good USD to TRY exchange rate
Know the latest USD/TRY market mid-rate.
The closer your final exchange rate is to this real market rate the better deal you are getting.
You should also judge how the current rate compares to the historic rate over the past 10 years.
Compare your Bank's transaction costs
to several
licensed FX providers, remember to compare the exchange rate margins as well as the various types of fees.
We make that easy to do with our calculators for
Foreign Transfers
and
Travel Money
transactions.
Currency news and forecasts for United States Dollar and Turkish Lira
Whenever you are researching a particular exchange rate you are actually interested in two currencies as the value of a currency must always be quoted relative to a second 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 United States Dollar and Turkish Lira news and forecasts.
United States Dollar (USD) - Market news and forecasts
In the third week of April the Dollar Index was rallying strongly towards the mid-97s, slightly below major resistance at 97.70, a break of which would be massively positive for the greenback. The index was up 1.7 percent year-to-date.
The dollar’s strength comes in spite of a dovish surprise in March from the Federal Reserve, which ditched two interest rate hikes from its 2019 projections. Fortunately for dollar holders, the rest of the world has problems and other important central banks also turned dovish, removing much of the incentive for selling USD.
Bloomberg research warned in April of potential for a large upcoming move in the US dollar, up or down. Over the past quarter-century, three prominent troughs in the JPMorgan Global FX Volatility Index were followed by dollar moves over 6-month periods worth 10-15 percent. The index was trading in mid-April at a 5-year low.
Turkish Lira (TRY) - Market news and forecasts
12-March-2019: Turkey’s lira suffered its worst one-day fall since the country’s crisis last year, amid a global retreat by investors from riskier assets.
The lira fell over 5 per cent against the dollar to as low as TL5.82, breaking a period of relative calm in Turkish financial markets so far this year amid rising caution over the resilience of the global economy.
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.
Turkey