CFD Trading Rate US Dollar vs Turkish Lira (USDTRY)

Change (%)
Date/Time (GMT 0)
Over the past 10 days
Date Rate Change

Related news

  • 23.05.2024 13:15
    USD/TRY keeps the range bound trade around 32.20 post-CBRT
    • The Turkish lira depreciates slightly around 32.20 vs. the Dollar.
    • The CBRT kept the One-Week Repo Rate unchanged at 50.0%.
    • The central bank sees a disinflationary scenario in H2 2024.

    The Turkish lira maintains its consolidative phase well in place on Thursday, hovering around the low-32.00s in the wake of the CBRT’s interest rate decision.

    USD/TRY faces extra consolidation in the near term

    So far, there have been no changes to the side-lined theme around the Turkish currency, which has remained trapped within the 32.00–32.60 range since mid-March.

    On Thursday, the Turkish central bank (CBRT) maintained its One-Week Repo Rate unchanged at 50.00%, as broadly anticipated.

    The CBRT stated that its decision on rates came after taking into account the delayed impacts of monetary tightening, adding that it is closely monitoring the effects on credit conditions and domestic demand.

    In the statement, the bank emphasized its vigilance regarding inflation risks, citing a "limited decline in the underlying trend of monthly inflation in April."

    In addition, the bank also indicated that it would tighten its policy stance if a significant and persistent increase in inflation was anticipated.

    Moving forward, market expectations see a nearly 72 bps increase at the bank’s next gathering on June 27.

    It is worth noting that headline inflation in Türkiye rose by 69.80 in the year to April.

    USD/TRY key levels to watch

    So far, the pair is advancing 0.10% to 32.1950 and faces the next up barrier at the all-time high of 32.6461 (April 19). On the flip side, a break below the weekly low of 31.9722 (April 29) would expose another weekly bottom of 31.7390 (March 21) and finally the temporary 100-day SMA of 31.4788.

© 2000-2024. All rights reserved.

This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Live Chat E-mail
Choose your language / location