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country currency pairs usdtry

US Dollar vs Turkish Lira

US Dollar vs Turkish Lira (USDTRY)

USDTRY is the forex pair representing the exchange rate between the US Dollar USD and the Turkish Lira TRY, important in currency trading.

-.-- -.--%
Annual change
-.--%
All time High / Low
19.993 / 26.07815
Buy

--.--

Sell

--.--

-.-
Daily price range:
Low
23.07474
High
23.10614

USDTRY Contract Specifications

  • Minimum Spreads, points: 0
  • Contract Size per Lot: 100000
  • Swap type: Points
  • Swap Long: -8.52
  • Swap Short: -10.16
  • Margin Group: FX Majors
  • Margin Currency: USD
  • Tick size: 0
  • Trading Platform: MetaTrader 4
  • Minimum Volume: 0.01
  • Maximum Volume: 0
  • Trading Schedule EET: 00:00 - 23:59 Mon - Fri
  • Hedged Margin: 1
  • Days Swap: FX Wednesday, metals-indices-oil friday

History of USDTRY

The history of the USDTRY currency pair is marked by significant fluctuations and events. The pair represents the exchange rate between the United States Dollar USD and the Turkish Lira TRY. Over the years, the Turkish Lira has experienced periods of volatility due to various economic and political factors in Turkey. Currency devaluations, inflation, and political instability have all contributed to substantial fluctuations in the USDTRY exchange rate. Traders and investors often closely monitor this pair for trading opportunities, and it remains a focus of attention in the global forex market due to its history of volatility and the economic developments in Turkey.

currency pair usdtry

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Frequently Asked Questions

USDTRY is a currency pair that represents the exchange rate between the United States Dollar (USD) and the Turkish Lira (TRY). In this pair, USD is the base currency, and TRY is the quote currency. It tells you how much one U.S. Dollar is worth in Turkish Lira. This currency pair is widely traded in the forex market, and its value can be influenced by various economic, political, and global factors, including economic indicators, central bank policies, geopolitical events, and market sentiment. Traders and investors use the USDTRY pair to speculate on the relative strength or weakness of these two currencies and to take advantage of price fluctuations in the exchange rate.

To trade the USDTRY currency pair, you would typically need to open an account with a forex broker that offers this pair. Once you have an account, you can place trades through their trading platform. Forex trading involves buying one currency while simultaneously selling another, so you would need to decide whether you want to buy or sell USDTRY. The trading platform will show you the current exchange rate and allow you to place your trade accordingly. It’s important to keep in mind that forex trading involves significant risks, so it’s advisable to do thorough research, have a trading plan, and consider seeking advice from a financial professional before entering the market.

The trading hours for USDTRY can be found here

Popular trading strategies for the USDTRY pair include trend following, range trading, and news trading. Trend-following strategies involve identifying and trading in the direction of prevailing trends, whether upward or downward. Range trading focuses on profiting from price fluctuations within a defined range by buying near support levels and selling near resistance levels. News trading involves capitalizing on significant economic or geopolitical events that can cause sudden price movements in the USDTRY pair. Traders often use technical and fundamental analysis to inform their strategies and may also implement risk management techniques like setting stop-loss and take-profit orders.

When trading the USDTRY pair, it’s crucial to consider several key factors. First, monitor economic indicators and news releases from both the United States and Turkey, including GDP reports, inflation rates, and employment data, as these can influence exchange rates. Pay attention to central bank policies and interest rate decisions from the U.S. Federal Reserve and the Central Bank of the Republic of Turkey. Geopolitical events and developments in Turkey can also impact the pair, so stay informed about political stability and trade relations. Additionally, keep an eye on market sentiment, liquidity, and implement effective risk management strategies to protect your capital.