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USD to TRY - Rate Guide

United States Dollar to Turkish Lira exchange rates aren't all the same.

The total cost you are charged by your bank or foreign exchange provider consists of a margin from the interbank mid-rate plus fees. These margins and fees vary significantly for International Money Transfers and Travel Money transactions as shown below.

 

USD/TRY update & alerts

1 USD = 5.9391 TRY

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USD to TRY - Trading Range (90 Day)
ALERT: 14-DAY HIGHS 🔔 |
USD/TRY at 5.9418 is trading 1.9% above the 90-day average 5.8293 with a range 5.6968 to 5.9745. ALERT: USD/TRY has risen to 14-DAY HIGHS.
24-Jan-2020 16:NY 21:LON 08:SYD+1d

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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.

 
  

USD to TRY International Money Transfers

  

Foreign Transfer ProvidersReceive TRY(₺)Exchange RateFee USDTotal CostDeal Links
XE logo
58,649
Best Overall
5.864901.25%
OFX logo
56,984
₺1,665 less
5.69840^4.05%
Wells Fargo Bank logo
55,743
₺2,906 less
5.5844186.14%
HSBC logo
55,703
₺2,946 less
5.5787U$156.21%
Banks - Average Rate
Bank of America logo U.S. Bank logo Wells Fargo Bank logo HSBC logo
55,363
₺3,286 less
5.5687156.78%
Bank of America International Money Transfers
Bank of America logo
55,003
₺3,646 less
5.5559U$1007.39%
U.S. Bank International Money Transfers
U.S. Bank logo
55,003
₺3,646 less
5.5559U$1007.39%
 
XE logo
XE: Foreign Transfer USD→TRY
From Amount (USD)U$10,000
Fee:
Exchange Rate:5.8649 (1.25% from mid-rate)
To Amount (TRY)58,649
Total Cost:1.25%
Time:18:04 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone
Rating:
 
: 3.5/5.0
Reviews:
 
OFX logo
OFX: Foreign Transfer USD→TRY
From Amount (USD)U$10,000
Fee:0^ - No fees for BestExchangeRates users (normally $12 for smaller transfers)
Exchange Rate:5.6984 (4.05% from mid-rate)
To Amount (TRY)56,984
Total Cost:4.05%
Difference:
₺1,665 TRY less than using XE
Time:
Rate Fetched: Sat Jan 25 2020 18:04:18 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Reviews:
 
Wells Fargo Bank logo
Wells Fargo Bank: Foreign Transfer USD→TRY
From Amount (USD)U$10,000
Fee:18
Exchange Rate:5.5844 (5.97% from mid-rate)
To Amount (TRY)55,743
Total Cost:6.14%
Difference:
₺2,906 TRY less than using XE
Time:18:04 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
HSBC logo
HSBC: Foreign Transfer USD→TRY
From Amount (USD)U$10,000
Fee:U$15 USD (.15%)
Exchange Rate:5.5787 (6.07% from mid-rate)
To Amount (TRY)55,703
Total Cost:6.21%
Difference:
₺2,946 TRY less than using XE
Time:18:04 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Banks - Average Rate
Foreign Transfer USD→TRY
From Amount (USD)U$10,000
Fee:15
Exchange Rate:5.5445 (6.64% from mid-rate)
To Amount (TRY)55,363
Total Cost:6.78%
Difference:
₺3,286 TRY less than using XE
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
 
Bank of America logo
Bank of America: Foreign Transfer USD→TRY
From Amount (USD)U$10,000
Fee:U$100 USD (1%)
Exchange Rate:5.5559 (6.45% from mid-rate)
To Amount (TRY)55,003
Total Cost:7.39%
Difference:
₺3,646 TRY less than using XE
Time:18:04 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
U.S. Bank logo
U.S. Bank: Foreign Transfer USD→TRY
From Amount (USD)U$10,000
Fee:U$100 USD (1%)
Exchange Rate:5.5559 (6.45% from mid-rate)
To Amount (TRY)55,003
Total Cost:7.39%
Difference:
₺3,646 TRY less than using XE
Time:18:04 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Snapshot 01/25/2020 - See full table

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 ProvidersAmount TRY(₺)Exchange RateFee USDTotal CostDeal Links
Banks - Average Rate Foreign Currency
5,144.73
Compare
5.1967U$1013.38%
 
Banks - Average Rate
Travel Money USD→TRY
From Amount (USD)U$1,000
Fee:U$10 USD (1%)
Exchange Rate:5.1967 (12.5% from mid-rate)
To Amount (TRY)5,144.73
Total Cost:13.38%
Currency Services:Branch
Delivery/Collect:-
 
Snapshot 01/25/2020 - See full table

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.

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.

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.

 

View all USD Exchange Rates