The real EUR/TRY rate
The interbank (mid-market) rate as the basis; the ibani margin, from 0.40% to 0.15% depending on the amount, is shown separately.
EUR → TRY · Real-time rateConvert euros
into Turkish lira (EUR → TRY)
Change your euros (EUR) into Turkish lira (TRY) at the real interbank rate, in real time. Ideal for sending money to Turkey — family, property purchase, spending on site — with a margin from 0.40% to 0.15% and no hidden fees.
EUR → TRYCurrency pair
Real timeMarket rate
0.15%Margin from
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EUR/TRY conversion in a nutshell
Convert euros into Turkish lira, at the right rate
The essentials to change your EUR into TRY with no nasty surprises on the rate or the fees.
A margin from 0.15%
Transparent and sliding, up to 10× cheaper than a bank. No hidden fees.
Multi-currency account
Manage your euros from an account in your name before sending your funds to Turkey.
A reliable Swiss partner
ibani SA, founded in Geneva in 2018, a financial intermediary affiliated with SO-FIT, a self-regulatory organisation recognised by FINMA.
What you really pay
EUR → TRY: ibani, bank or exchange office?
On a EUR 5'000 transfer to Turkey, the margin applied to the rate makes all the difference to the amount received.
| Criterion | ibani | Bank | Exchange office |
|---|---|---|---|
| Starting rate | Real interbank | "House" rate | "House" rate |
| Exchange margin | 0.40% | ~1.5 to 2% | Often > 2% |
| Transfer fees | Transparent | Variable | — |
| Estimated cost* | ~20 EUR | ~75 EUR | > 100 EUR |
| 100% digital tracking | Yes | Partial | No |
*Indicative orders of magnitude for a EUR 5'000 transfer to Turkey. Correspondent bank fees may apply. See the details on our Rates page.
Rate movement
Live EUR / TRY exchange rate
Follow the pair's trend to choose the right moment for your exchange.
Conversion tables
How much is 1 EUR in TRY (and the reverse)?
Indicative amounts, ibani margin included, updated continuously.
Reference rate as of 7 October 2026; the rate applied is the one at the time of the order.
How to convert
Your EUR changed into TRY, in 3 steps
Create your ibani account for free
100% digital sign-up in 5 minutes, with no opening or account maintenance fees.
Fund your account in euros
Top up your account in EUR: the funds will then be ready to be converted into Turkish lira.
Send your Turkish lira at the real rate
ibani converts your EUR into TRY at the market rate, plus a margin of 0.40% to 0.15% depending on the amount, and transfers the funds to an account in Turkey.
CHF
USD
GBP
CAD
JPY
SGDMarkets · updated 28 August 2026
EUR/TRY: what has moved in recent months
The policy gap is spectacular: a 2.25% deposit rate in Frankfurt since 11 June, 37% in Ankara since January. Even at that level, Türkiye's central bank had to raise its end-2026 inflation forecast from 26% to 28% in August, because of the energy shock.
EURThe ECB tightened in June, then waited
On 11 June 2026 the European Central Bank raised its deposit rate by 25 basis points to 2.25% — its first hike since 2023 — in response to an imported energy shock, taking the main refinancing rate to 2.40%. On 23 July it left all three rates unchanged without committing to a path. Euro area inflation came in at 2.9% in July after 2.8% in June, and August PMIs moved clearly back into expansion (composite at 52.1). Rate markets price a further hike on 10 September at roughly 80%.
TRYRate at 37%, inflation forecast raised to 28%
Türkiye's central bank left its policy rate at 37% in July 2026, a fourth hold since January's 100 basis point cut. In August it raised its end-2026 inflation forecast from 26% to 28%, citing energy prices, while keeping its 15% target for 2027 and 9% for 2028 unchanged. The lira has lost around 17% against the dollar over twelve months.
EUR → TRY
What it means for you
The lira has depreciated by around 17% against the dollar over twelve months, and the central bank repeats that it targets no exchange rate level. For a regular transfer to Türkiye, it is the cost of conversion, not the timing, that makes the difference over a year.
Benchmark on 28 August 2026: 1 EUR ≈ 56.182 TRY. The converter at the top of this page shows the live rate.
Sources: ECB, monetary policy decisions of 11 June and 23 July 2026 · Eurostat, euro area July inflation confirmed 19 August 2026 · S&P Global, euro area flash PMI of 21 August 2026 · Central Bank of the Republic of Türkiye, July 2026 decision and August 2026 inflation report.
The economics of the pair
EUR/TRY: the ECB versus the CBRT
The rate between the euro (EUR) and the Turkish lira (TRY) pits two very different monetary realities against each other. On one side, the European Central Bank (ECB) steers the monetary policy of a eurozone with relatively contained inflation; on the other, the Central Bank of Turkey (CBRT) faces inflation that remains, despite its decline, markedly higher.
The underlying EUR/TRY trend reflects the structural depreciation of the Turkish lira. After an inflation peak exceeding 75% in 2024, Turkey has embarked on gradual disinflation, but the inflation and interest-rate gap with the eurozone continues to weigh on the TRY. This gap, combined with the CBRT's adjustments to its key rates, explains why the euro tends to appreciate durably against the lira.
The pair is also sensitive to the regional geopolitical context: Turkey sits at the crossroads of areas of tension, and any shock — capital flows, risk premiums, inflation releases — can trigger pronounced movements. For the user sending EUR to Turkey, monitoring the real interbank rate remains essential when converting.
To go further, see our guides on how to lock in a favourable rate and change your currency online.
Written by Brice Delhome.
Frequently asked questions
Frequently asked questions about EUR/TRY exchange
Over time, the EUR/TRY trend mainly reflects the structural depreciation of the Turkish lira. High Turkish inflation and the monetary policy of the CBRT (Central Bank of Turkey) weigh on the TRY, while the euro, managed by the ECB (European Central Bank), benefits from more contained inflation. The inflation and interest-rate gap between the eurozone and Turkey is the main driver of the pair.
There is no universally ideal moment. The EUR/TRY rate can be very volatile, as the Turkish lira reacts strongly to CBRT (Central Bank of Turkey) decisions, inflation releases and the regional geopolitical context. Monitor the real interbank rate continuously and trigger your exchange when the level suits your project in Turkey.
With ibani, you open an account for free and fund it in euros. You convert your euros into Turkish lira at the real market rate, plus a margin of 0.40% to 0.15% depending on the amount, then send the funds to an account in Turkey. Transfers in currencies other than EUR and CHF may be subject to correspondent bank fees.
ibani applies a transparent margin from 0.40% to 0.15% on the real interbank rate, decreasing with amounts. There are no opening or account maintenance fees. For transfers to Turkey, fees may be charged by the intermediary banks involved in the transfer. It's up to 10× cheaper than a traditional bank.
Change your euros
into Turkish lira at the right rate.
Open an account, convert your EUR into TRY at the real rate (+ margin from 0.15%) and send your funds to Turkey with no hidden fees. Free account opening, 100% digital, in 5 minutes.✓ Real interbank rate · ✓ Margin from 0.15% · ✓ Affiliated with SO-FIT (SRO)
* Transfers in currencies other than EUR and CHF may be subject to correspondent bank fees.
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 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).