The USD/TRY is based on the value of the US dollar against the Turkish lira. As Turkey is an emerging economy, this currency pair is referred to as an exotic cross. Its price reflects how many lira (quote currency) are needed to buy one US dollar. Historically, the value of the Turkish lira has fallen so low that in 2005, a new version of TRY was issued. Rising US bond yields tend to have a positive correlation with the price of USD/TRY, and it can also be affected by political or economic issues within the eurozone, given that Turkey is planning to join the EU. Analyse our USD/TRY live chart and open an account to spread bet or trade CFDs on this exotic currency pair.
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