The usd to try (USDTRY) is an exotic currency pair representing the exchange rate between the US dollar (USD) and the Turkish lira (TRY). It indicates how many liras are needed to purchase one US dollar. The conversion between USD and TRY works by multiplying the amount of US dollars by the exchange rate to obtain the equivalent value in Turkish lira. For example, if the exchange rate is 8.00, then 1 US dollar would be equal to 8 Turkish lira.
The pair's history has been influenced by economic factors, political events, and monetary policies. Over time, the USDTRY exchange rate has experienced fluctuations driven by factors such as inflation, political stability, trade imbalances, and investor sentiment. Turkey's economic challenges, including high inflation and geopolitical concerns, have contributed to volatility in the pair.
Historically, the USDTRY pair has been characterized by significant volatility, influenced by various economic and political factors impacting both countries. The price history of USDTRY has been shaped by factors such as inflation, interest rates, trade imbalances, geopolitical events, and investor sentiment. Turkey's economic challenges, including high inflation and political instability, have contributed to notable fluctuations in the exchange rate.
Additionally, changes in monetary policy and government interventions have influenced this pair. Over the years, the USDTRY exchange rate has experienced both upward and downward trends, reflecting changing market conditions and investor perceptions of risk. Traders and investors closely monitor this pair, conducting technical and fundamental analyses to identify potential trading opportunities and manage associated risks. It's important to note that the USDTRY price history remains subject to ongoing changes as economic conditions and geopolitical developments evolve.
Traders may consider trading the USDTRY currency pair due to its potential for volatility and profit opportunities. The exchange rate between the US dollar (USD) and the Turkish lira (TRY) can be influenced by economic indicators, political developments, monetary policies, and investor sentiment. These dynamics can create trading opportunities for those interested in exposure to the Turkish market.
In addition to USDTRY, traders should also consider other currency pairs for trading opportunities. Major pairs like EURUSD, GBPUSD, and USDJPY offer high liquidity and are widely traded. Crosses such as EURJPY, GBPJPY, and AUDJPY are known for their volatility. Emerging market currency pairs like USDMXN, USDBRL, and USDZAR can also provide opportunities, but they carry higher risk levels due to the nature of emerging market currencies. Ultimately, traders should conduct thorough analysis, consider their trading strategies, and assess risk tolerance when selecting currency pairs to trade.
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* The spreads provided are a reflection of the time-weighted average. Though Skilling attempts to provide competitive spreads during all trading hours, clients should note that these may vary and are susceptible to underlying market conditions. The above is provided for indicative purposes only. Clients are advised to check important news announcements on our Economic Calendar, which may result in the widening of spreads, amongst other instances.
The above spreads are applicable under normal trading conditions. Skilling has the right to amend the above spreads according to market conditions as per the 'Terms and Conditions'.
Why Trade [[data.name]]
Make the most of price fluctuations - no matter what direction the price swings and with low capital investment.