Bitget App
common_footer.down_desc
common_header.buy_cryptocommon_header.marketscommon_header.tradecommon_header.futurescommon_header.social_tradingcommon_header.grid_tradingcommon_header.earn
base info Sluts

calculator.detail.title

calculator.detail.title_des
$SLUTS
$SLUTS
swap
TRY
coin.update_time (UTC+0)calculator.common.refreshrefresh
widget.page_site
calculator.detail.computed_des

calculator.fiat.title

About the Turkish Lira (TRY)

What Is the Turkish Lira (TRY)?

The Turkish Lira, represented by the symbol ₺ and the ISO code TRY, is the official currency of Turkey and Northern Cyprus. It is divided into 100 smaller units called kuruş. The lira, which has a rich history dating back to the Ottoman Empire, has undergone significant transformations over the years.

The Turkish Lira is issued by the Central Bank of the Republic of Turkey, which is the country's central bank. It is responsible for regulating and issuing the Turkish Lira as the official currency of Turkey. The Central Bank of Turkey is also responsible for monetary policy and maintaining the stability of the Turkish Lira in the financial markets.

What Is the History of TRY?

The lira's roots can be traced back to the ancient Roman unit of weight, the libra. The Ottoman lira was introduced in 1844, replacing the kuruş as the main unit of account. The first Turkish lira was introduced in 1923. Over the years, the lira experienced various pegs to foreign currencies, including the sterling and the franc, and later the US dollar. However, due to persistent devaluation, the lira's value fell drastically, leading to its ranking as the world's least valuable currency in certain years. In 2005, a significant revaluation occurred with the introduction of the new Turkish lira, which removed six zeros from the old currency. This change aimed to stabilize the currency and simplify financial transactions.

Notes and Coins of TRY

The coin denominations include 1, 5, 10, 25, and 50 kuruş, as well as the 1 lira coin. Each coin showcases distinct Turkish symbols and landmarks, such as the snowdrop on the 1 kuruş and the Bosphorus Bridge on the 50 kuruş. The banknotes, on the other hand, come in denominations of 5, 10, 20, 50, 100, and 200 liras. They are adorned with portraits of prominent Turkish figures, including Mustafa Kemal Atatürk.

Economic Challenges and Currency Crisis

The Turkish lira has faced significant challenges, particularly since 2018. Factors such as political influence on monetary policy, unorthodox banking methods, and external economic pressures have led to rapid inflation and depreciation of the lira. Despite attempts to stabilize the currency, including interest rate adjustments, the lira has continued to struggle, experiencing record lows against major currencies like the US dollar.

Is TRY A Stable Currency?

The Turkish Lira has been facing significant instability, marked by a notable depreciation against major currencies and high inflation rates. The lira's volatility is largely attributed to unconventional economic policies and political influence on monetary decisions. For instance, the lira experienced a dramatic decline in value, with inflation soaring to over 80% in 2022, as reported by various financial sources. This economic turbulence has been further exacerbated by global economic pressures and geopolitical factors. The currency's rapid devaluation was highlighted by its steep fall against the US Dollar, where it lost over 400% of its value since 2008.

Is TRY Pegged to Other Currencies?

The Turkish Lira (TRY) is not pegged to any specific foreign currency. Historically, Turkey has used various exchange rate regimes, including fixed pegs to foreign currencies, such as the US Dollar, in the past. However, the country transitioned to a more flexible exchange rate regime, which allows the lira's value to be determined by supply and demand in the foreign exchange market.

This move towards a floating exchange rate system occurred after the 2001 economic crisis in Turkey, which led to a major devaluation of the currency. Since then, the Turkish government has generally allowed the lira to float freely, with occasional interventions in the foreign exchange market to stabilize extreme fluctuations.

coin.about_expand
calculator.fiat.text_2

calculator.detail.trend

1D7D1M3M1YAll
calculator.detail.trend_des

calculator.compare.title

calculator.compare.exchangecalculator.compare.pricecalculator.compare.maker_feecalculator.compare.tradable
Bitgethot-iconcalculator.compare.best
₺0
0.0200% / 0.0320%vip-iconcalculator.compare.vip
coin.update_time(UTC+0)

calculator.right.title

buy-coin-step-0-img
calculator.htb.step1_title
calculator.htb.step1_des
buy-coin-step-1-img
calculator.htb.step2_title
calculator.htb.step2_des
buy-coin-step-2-img
calculator.htb.step4_title
calculator.htb.step4_des

calculator.p2p.buy_title

calculator.p2p.buy_desc3
calculator.p2p.trade_and_ratecalculator.p2p.pricecalculator.p2p.amt_limit
calculator.p2p.low_to_high
calculator.p2p.pay_methods
calculator.p2p.fee_tips
calculator.p2p.action
calculator.p2p.no_data

calculator.p2p.sell_title

calculator.p2p.sell_desc4
calculator.p2p.trade_and_ratecalculator.p2p.pricecalculator.p2p.amt_limit
calculator.p2p.high_to_low
calculator.p2p.pay_methods
calculator.p2p.fee_tips
calculator.p2p.action
calculator.p2p.no_data

calculator.detail.affect_title

calculator.detail.affect_up
calculator.detail.affect_today
calculator.detail.affect_market
$0
calculator.detail.affect_valume
$0
calculator.detail.affect_supply
0 $SLUTS

calculator.detail.conversion_table

calculator.detail.conversion_up
calculator.detail.conversion_des1
calculator.detail.conversion_des2

coin.current_to_local

coin.amount
calculator.detail.time_
0.5 $SLUTS
0
1 $SLUTS
0
5 $SLUTS
0
10 $SLUTS
0
50 $SLUTS
0
100 $SLUTS
0
500 $SLUTS
0
1000 $SLUTS
0

coin.current_to_local

coin.amountcalculator.detail.time_
0.5TRYInfinity  $SLUTS
1TRYInfinity  $SLUTS
5TRYInfinity  $SLUTS
10TRYInfinity  $SLUTS
50TRYInfinity  $SLUTS
100TRYInfinity  $SLUTS
500TRYInfinity  $SLUTS
1000TRYInfinity  $SLUTS

calculator.detail.price_24

coin.amountcalculator.detail.time_calculator.detail.price_24_agocalculator.detail.price_24_change
0.5 $SLUTS$0.00$-0.{5}7583
+0.42%
1 $SLUTS$0.00$-0.{4}1517
+0.42%
5 $SLUTS$0.00$-0.{4}7583
+0.42%
10 $SLUTS$0.00$-0.0001517
+0.42%
50 $SLUTS$0.00$-0.0007583
+0.42%
100 $SLUTS$0.00$-0.001517
+0.42%
500 $SLUTS$0.00$-0.007583
+0.42%
1000 $SLUTS$0.00$-0.01517
+0.42%

calculator.detail.price_month

coin.amountcalculator.detail.time_calculator.detail.price_month_agocalculator.detail.price_month_change
0.5 $SLUTS$0.00$-0.0005309
+41.31%
1 $SLUTS$0.00$-0.001062
+41.31%
5 $SLUTS$0.00$-0.005309
+41.31%
10 $SLUTS$0.00$-0.01062
+41.31%
50 $SLUTS$0.00$-0.05309
+41.31%
100 $SLUTS$0.00$-0.1062
+41.31%
500 $SLUTS$0.00$-0.5309
+41.31%
1000 $SLUTS$0.00$-1.06186
+41.31%

calculator.detail.price_year

coin.amountcalculator.detail.time_calculator.detail.price_year_agocalculator.detail.price_year_change
0.5 $SLUTS$0.00$-0.001816
0.00%
1 $SLUTS$0.00$-0.003632
0.00%
5 $SLUTS$0.00$-0.01816
0.00%
10 $SLUTS$0.00$-0.03632
0.00%
50 $SLUTS$0.00$-0.1816
0.00%
100 $SLUTS$0.00$-0.3632
0.00%
500 $SLUTS$0.00$-1.8162
0.00%
1000 $SLUTS$0.00$-3.6325
0.00%

coin.prediction

coin.prediction_question

price_predict.text_introduce

coin.prediction_question

price_predict.prediction_content

calculator.earn.title

calculator.earn.des
calculator.earn.coin

calculator.earn.apr

calculator.earn.action

calculator.p2p.latest_coins_title

calculator.p2p.latest_coins_desc

faq.title

calculator.faq.question1

calculator.faq.answer1

calculator.faq.question2

calculator.faq.answer2

calculator.faq.question3

calculator.faq.answer3

calculator.faq.question4

calculator.faq.answer4

calculator.faq.question5

calculator.faq.answer5

calculator.faq.question6

calculator.faq.answer6
calculator.detail.disclaimers