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Turkish Lira TRY

 

Detailed information and fundamental factors

Central Bank: Central Bank of the Republic of Turkey

Interest Rate: 25.50%

Public Debt to GDP Ratio, 2017: 29.6%

Trade Balance, 2017: -$39.5 bln.

Inflation, 2017: 10.9%

Sovereign Credit Ratings:

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

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

Turkey Attempts to Defend Lira, Currency Remains Soft

The Turkish lira remains soft despite attempts of policy makers to prop up the currency.

Turkish Lira Falls for Seventh Session After Central Bank Disappoints

The Turkish lira fell today, extending its decline for the seventh consecutive trading session, after Turkey’s central bank disappointed market participants by yesterday’s monetary policy statement.

Turkish Lira Bounces After Erdogan Warns Speculators

The Turkish lira rose against the US dollar, rebounding after Friday’s huge slump, today after Turkey’s President Recep Tayyip Erdogan warned investors speculating against the currency that they will be punished. The bounce was limited, though, and currently the lira is trimming its gains.

Turkish Lira Rallies After Central Bank Hikes Policy Rate

The Turkish lira gained today after the nation’s central bank increase some of its interest rates and talked about possibility of more hikes in the future.

Turkish Lira Rebounds After Four Sessions of Losses

The Turkish lira remained extremely volatile, rising today after four consecutive sessions of losses.

Turkish Lira Extends Decline on Monday

The Turkish lira continued to fall today after halting its recovery last week. For now, it looks like the decline did not affect other currencies.

Turkish Lira Halts Recovery, Falls vs. Dollar & Euro

The Turkish lira halted its rebound and fell versus the US dollar and the euro today as concerns about the situation in Turkey resurfaced.

Turkish Lira Continues to Recover, Boosted by Qatar Investment

The Turkish lira continued to recover, rising for the third straight trading session against the US dollar and the euro today.

Turkish Lira Pulls Back from Record Low After Central Bank Announcements

The Turkish lira recovered a bit today after touching a new record low overnight. The nation’s central bank attempted to support the currency, making couple announcements.

Turkish Lira Rattles Global Financial Markets As Currency Crashes 20%

The Turkish lira cratered more than 20% on Friday after the US government announced it was doubling its tariffs on the country’s steel and aluminum exports. The collapse in the lira sent shockwaves throughout global financial markets, prompting the European Central Bank (ECB) to warn major European banks about being exposed to the Turkish economy.

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