--- title: "Turkish lira (TRY) exchange rate" url: https://www.ibani.com/en/currency-converter/currencies/try-turkish-lira lang: en date_modified: 2026-10-07 --- Currency · TRY · ₺ # Turkish lira (TRY) exchange rate The Turkish lira is the official currency of Türkiye. An emerging-market currency marked by high volatility, it is converted at the **real interbank rate**, in real time, with a transparent margin from 0.40% to 0.15%. [Open my free account](https://www.ibani.com/en/app) See TRY rates **TRY**ISO code · ₺ **CBRT**Central bank **0.15%**Margin from ### Simulate your transfer No hidden fees — Live rate — Estimated annual saving — vs. a traditional bank Per monthly transfer · [Live rates](https://www.ibani.com/en/currency-converter) · [Pricing](https://www.ibani.com/en/rates) [Get started — It's free](https://www.ibani.com/en/app) [![App Store](https://www.ibani.com/images/appstore-badge-en.svg)](https://apps.apple.com/app/ibani-borderless-money/id1382598762)[![Google Play](https://www.ibani.com/images/google-play-badge-en.svg)](https://play.google.com/store/apps/details?id=com.ibani.mobile&hl=en) \* 100% digital sign-up in 5 minutes. Zero account opening or maintenance fees. **35'000+ clients**Individuals & businesses **CHF 1 Billion+**Exchanged since 2018 **Up to 10× cheaper**Than a traditional bank **4.7/5 · Excellent**On 2'000+ client reviews [![SO-FIT logo](https://www.ibani.com/images/sofit-light.svg) Affiliated with SO-FIT (SRO)\*](https://so-fit.ch/) The Turkish lira in brief ## The essentials about the Turkish lira (TRY) The key facts about Türkiye's currency, and how to convert it at the right rate. ### ISO code TRY, symbol ₺ Official currency of the Republic of Türkiye, subdivided into 100 kuruş. ### Managed by the CBRT The Central Bank of the Republic of Türkiye (CBRT / TCMB) conducts the country's monetary policy. ### Volatile emerging currency Heavily depreciated over the past decade, sensitive to inflation and the geopolitical context. ### Exchange from 0.15% at ibani A sliding, transparent margin applied to the real rate, with no hidden fees. Our experts' analysis ## The Turkish lira, an emerging currency under pressure. The Turkish lira (TRY) is the currency of a large emerging economy straddling Europe and Asia. Over the past decade, it has depreciated sharply against strong currencies, driven by persistent inflation and long-standing unconventional monetary policy choices. For Swiss residents with ties to Türkiye, the **CHF/TRY** pair is closely watched: it can move sharply in a short time. Tracking Turkish inflation, the central bank's decisions and the geopolitical context helps to better understand the lira's movements and to choose when to exchange it. TRY key facts ISO code**TRY · ₺** Central bank**CBRT / TCMB** Area of use**Türkiye** Notable feature**High volatility** Monetary policy ## The CBRT's policy towards the lira The Central Bank of the Republic of Türkiye (CBRT, or TCMB in Turkish) is responsible for the country's monetary policy. Its mandate targets price stability, but the high inflation of recent years has made this objective particularly demanding. To act on the lira, the CBRT uses several instruments: ### Key interest rates The main lever against inflation. After a phase of unconventional cuts, from 2023 the CBRT carried out a sharp tightening, raising the key rate to as high as 50%. ### Reserves and interventions Managing foreign exchange reserves and measures on deposits serve to cushion the lira's volatility and defend its value on the market. The CBRT's decisions have a direct impact on the value of the lira: credible tightening tends to support it, while doubts about the direction of monetary policy or geopolitical tensions can accentuate its depreciation. History of the Turkish lira ## Key dates of the Turkish lira 2005 ### New Turkish lira A redenomination removes six zeros from the currency: 1 new lira (YTL) replaces 1,000,000 old lira. 2009 ### Return to the name "Turkish lira" The "new" prefix is dropped: the currency becomes simply the Turkish lira (TL) again, ISO code TRY. 2012 ### Adoption of the ₺ symbol The central bank introduces the official sign of the Turkish lira, chosen following a national competition. 2018 ### Currency crisis The lira falls sharply against the dollar and the euro, amid inflationary and geopolitical tensions. 2021-2022 ### Unconventional policy Despite rising inflation, the central bank cuts its rates; inflation peaks at around 85% in late 2022 and the lira depreciates sharply. 2023-2024 ### Orthodox shift After the 2023 elections, the CBRT raises its key interest rates sharply, up to 50%, in an attempt to stabilise the lira. Today's rates ## Our rates for the Turkish lira (TRY) Indicative value for 1 unit, ibani margin included. Click a pair for its details and history. Reference rate as of 7 October 2026; the rate applied is the one at the time of the order. | | [CHF](https://www.ibani.com/en/currency-converter/currencies/chf-swiss-franc) | [EUR](https://www.ibani.com/en/currency-converter/currencies/eur-euro) | | --- | --- | --- | | To TRY 1 | [58.8294CHF to TRY rate](https://www.ibani.com/en/currency-converter/chf-to-try-rate) | [54.8260EUR to TRY rate](https://www.ibani.com/en/currency-converter/eur-to-try-rate) | To the Turkish lira (TRY) [CHF TRY](https://www.ibani.com/en/currency-converter/chf-to-try-rate) [EUR TRY](https://www.ibani.com/en/currency-converter/eur-to-try-rate) [See all our currencies →](https://www.ibani.com/en/currency-converter/currencies) News ## Latest analyses on currency exchange and currencies ### EUR/CHF Forecast October 2026: Euro Climbs Back to 0.9311 After Its Fall of 2 October As of October 5, 2026, EUR/CHF climbs back to 0.9311 (+0.3%) at the ECB reference rate, after losing 1.7% on 2 October. The yield spread between French and German government bonds, which rose above 150 points on 2 October, narrows to 141 points according to Reuters. [Read article](https://www.ibani.com/en/guides/chf-eur-exchange-rate-forecast) ### GBP/CHF Forecast: The Pound Falls Back Against the Franc After Its 2026 High (October 2026) As of 2 October 2026, the pound sterling is worth 1.0912 francs, down 1.3% on the session, two days after its high for the year at 1.1090. The Bank of England is holding its rate at 3.75%, but three of its nine members voted for a hike. [Read article](https://www.ibani.com/en/guides/chf-gbp-exchange-rate-forecast) ### USD/CHF Forecast (October 2026): The Dollar Falls Back to 0.8266 Franc As of October 2, 2026, the dollar is worth 0.8266 franc, down 1.0% from the previous day's reference rate, which marked its highest since May 2025. The US September jobs report, released afterwards, shows only 29,000 jobs created. [Read article](https://www.ibani.com/en/guides/chf-usd-exchange-rate-forecast) Frequently asked questions ## Frequently asked questions about the Turkish lira (TRY) Always compare the rate offered with the real interbank rate (mid-market). A specialised online exchange service like ibani starts from this real rate and only adds a transparent margin from 0.40% to 0.15%, with no hidden fees, whereas a bank often applies a much wider spread. Compare with our [rate comparison tool](https://www.ibani.com/en/compare-exchange-rates). The Turkish lira is issued and managed by the Central Bank of the Republic of Türkiye (CBRT, or TCMB in Turkish). It conducts the country's monetary policy and sets the key interest rates, whose decisions strongly influence the value of the lira against other currencies. The Turkish lira has lost a large part of its value over the past decade due to structurally high inflation, a long-standing unconventional monetary policy (rate cuts despite high inflation) and a marked sensitivity to the geopolitical context. Since 2023, a sharp monetary tightening has aimed to stabilise the currency and restore the central bank's credibility. At ibani, you can convert the Turkish lira (TRY) into Swiss francs (CHF) and euros (EUR), at the real interbank rate, plus a margin of 0.40% to 0.15% depending on the amount. The reverse operation is also possible, from Swiss francs or euros into Turkish lira. ## Exchange your Turkish lira at the right market rate. Get a personal Swiss IBAN, convert the Turkish lira at the real rate (+ margin from 0.15%) and transfer with no hidden fees. Opening an account is free, 100% digital and takes just 5 minutes. [OPEN A FREE ACCOUNT](https://www.ibani.com/en/app) [Back to the converter](https://www.ibani.com/en/currency-converter) ✓ Real interbank rate  ·  ✓ Margin from 0.15%  ·  ✓ Affiliated with SO-FIT (SRO) [![SO-FIT logo](https://www.ibani.com/images/sofit-light.svg)](https://so-fit.ch/) ## Swiss financial intermediary subject to the AMLA regulatory framework Your money is handled with the utmost regulatory rigour. ibani SA is a FinTech company established since 2018 in the heart of Geneva, Switzerland. We are a financial intermediary audited for our activity, with thousands of clients and exchange operations to our name. ibani SA is affiliated with [SO-FIT](https://so-fit.ch/) as a financial intermediary within the meaning of Article 2 para. 3 of the Anti-Money Laundering Act (AMLA). SO-FIT is a self-regulatory organisation recognised by the Swiss Financial Market Supervisory Authority ([FINMA](https://www.finma.ch/en/authorisation/self-regulatory-organisations-sros/)).