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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

Turkish Lira Slightly Rebounds After Crashing to Record Low

The Turkish lira is slightly rebounding on Thursday after crashing to a record low against the US dollar early on Thursday. Investors are nervous about Turkey’s response to the economic fallout from the coronavirus pandemic, as well as the decline in the central bank’s reserves. Could the world bail out Turkey once the COVID-19 crisis subsides?

Turkish Lira Rallies Despite Interest Rate Cut

The Turkish lira rallied today despite the fact that Turkey’s central bank decided to lower its one-week repo auction rate.

Lira Strong Despite Turkey’s Slowing Inflation

The Turkish lira managed to gain today even after Turkey’s inflation slowed more than was expected.

USD/TRY Rises as Tensions Between USA & Turkey Flare

The Turkish lira fell against the US dollar today after geopolitical tensions between the United States and Turkey flared.

Turkish Lira Opens Sharply Lower After Sacking of Central Bank’s Chief

The Turkish lira opened sharply lower today compared to the Friday’s close after the news that Turkish President Recep Tayyip Erdogan sacked central bank’s governor Murat Cetinkaya, giving the office to his deputy instead.

Slowing Inflation & Prospects for Interest Rate Cuts Don’t Prevent Turkish Lira from Rising

The Turkish lira rose today despite slowing inflation and prospects for interest rate cuts from the nation’s central bank.

USD/TRY Trades above 5.80, Bouncing After Falling to Almost 5.70

The USD/TRY currency pair rebounded after falling earlier today. The previous rally of the Turkish lira was a result of many positive factors.

Turkish Lira Gains on US Dollar Despite Unfavorable Data

The Turkish lira gained on the US dollar today. That is surprising considering that macroeconomic data released in Turkey during the trading session was unfavorable.

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.

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