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USD-TRY / US Dollar to Turkish Lira


The US Dollar to Turkish Lira is the currency exchange rate between these two currencies. This is unique pair is traded 24 hours a day, 365 days a year and its value depends on the movements of their respective economies.

More About USD-TRY / US Dollar to Turkish Lira

Continue reading to learn more about:

What exactly is currency?
What factors influence the USD/TRY exchange rate?
What's the difference between the USD and the TRY?
What are the similarities between the US dollar and the Turkish Lira?
What exactly is foreign exchange?


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What exactly is currency?


The short answer is that currency is money. Currency which we use every day exists in different forms and have various properties associated with them.These properties affect their lifetime and the way they can be used by us. While it might sound simple and straight-forward, there is a lot of information that we need to take into consideration to fully understand currency, as well as its role in our daily lives.


 
 

What factors influence the USD/TRY exchange rate?


The US Dollar to Turkish Lira exchange rate (USD/TRY) is determined by the currency market forces of supply and demand. The exchange rate between two currencies is affected by a number of factors such as interest rates, inflation and political tension, but there are also some economic forecasters that try to predict the future value of this market.

 

What's the difference between the USD and the TRY?

The difference between the US dollar and the Turkish Lira is that the US dollar is a common currency used within a group of sixteen industrialized nations, known as the G-7 (Canada, France, Germany, Italy, Japan, United Kingdom, United States and Russia) also referred to as The Group of Seven or more commonly G-7.
The Turkish Lira on the other hand is used only in Turkey and was adopted in 2005 following 19 years of use being pegged to another currency and then being allowed to float freely with its value very closely related to that of the US dollar.
 
  • What are the similarities between the US dollar and the Turkish Lira?

    The US dollar and the Turkish Lira have a lot in common. Both represent quality currency, strong economies, and high-quality goods and services. The US mints its own coins while the Turkish government prints its own notes. Both currencies represent very powerful nations, with their own set of rules and laws, with economics at the top of their agenda.
  • What exactly is foreign exchange?

    Foreign exchange, or forex for short, is the buying and selling of different currencies. It's a global marketplace where currencies from all over the world are traded, which means there are lots of opportunities for traders to profit. It's also a place for people to hedge their bets on economic trends and protect themselves against volatility. But there are plenty of reasons why you might want to get involved in this exciting market - go here for some of them.