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Turkish Lira TRY

 

Detailed information and fundamental factors

Central Bank: Central Bank of the Republic of Turkey

Public Debt to GDP Ratio, 2016: 32.7%

Trade Balance, 2016: -$47.7 bln.

Inflation, 2016: 8%

Sovereign Credit Ratings:

Fitch
BB+
Stable
Moody's
Ba1
Negative
S&P
BB
Negative

Supporting Factors

High-yielding interest rates

strong

Factors of Weakness

High-risk emerging economy

weak

The Turkish lira is the currency of Turkey and the Turkish Republic of Northern Cyprus (recognized only by Turkey). The new Turkish lira was introduced in 2005, dropping 6 zeros from the old lira. Turkey is one of the major world producers of agricultural commodities and steel.



Turkish Lira News Archive

Lira Slumps amid Tensions Between USA & Turkey

The Turkish lira slumped against the US dollar as relationships between the United States and Turkey deteriorated after the arrest of a US consulate worker.

Turkish Lira Stable After Central Banks Maintains Tight Policy

The Turkish lira was stable against the US dollar after Turkey’s central bank decided at today’s meeting to keep interest rates unchanged.

Turkish Lira Weakens amid Complicated Environment

The Turkish lira fell against the US dollar today as complicated environment makes it hard for the central bank to support the currency.

Turkish Lira Drops amid Credit Rating Worries

The Turkish lira dropped today ahead of the credit rating decision by Fitch Ratings that may lead to Turkey losing its investment grade.

Turkey’s Central Bank Raises Interest Rates, Lira Unimpressed

The Turkish lira slid today even though Turkey’s central bank raised some of its interest rates, including the key Marginal Funding Rate.

Turkish Lira Reverses Rally, Falling vs. US Dollar

The Turkish lira fell against the US dollar today, prompting the government to threaten actions against speculators that drive the currency down.

Turkish Lira Logs Strong Gains vs. Dollar, Analysts Remain Bearish

Currencies of emerging markets were rallying against the US dollar during the Thursday’s trading session, and the Turkish lira joined the parade. Yet analysts remained largely bearish on the Turkish currency.

Turkish Lira Hits Record Low vs. Dollar After Falling More Than 2%

The Turkish lira fell more than 2%, dropping to the record low against the US dollar today as fundamentals, both domestic and overseas, made the currency largely unappealing to investors and Forex traders.

Turkish Lira Jumps Against US Dollar

The Turkish lira climbed against the US dollar today, easing the pressure on the nation’s central bank to act in defense of the currency and its inflation goal.

Turkish Lira Hits Record Low as Markets Anticipate Fed Hike

The Turkish lira fell today, hitting a record low, as the hawkish outlook for Federal Reserve’s monetary policy and the resulting strength of the US dollar led to weakness of emerging markets’ assets.

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