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USD/TRY Forecast, Prediction and Analysis Today

USD/TRY refers to the US Dollar/ Turkish new lira currency pair. TRY is the currency used in Turkey and in Turkish administered Northern Cyprus....
USD/TRY is an exotic currency pair, with comparatively low trading volume, which is not widely used in global financial transactions. The Turkish lira was revalued in 2005, as part of far- reaching economic reform, including privatization and a tough monetary policy designed to reduce spending. The revaluation of the TRY was designed to combat exceptionally high inflation. The new Turkish lira was introduced and from this point on, 1 TRY became the equivalent of 1 million of the old Turkish liras. Today, the TRY has no explicit peg but has historically been pegged to the British pound French franc and the US dollar. At various times, Turkey has actively intervened in the foreign exchange markets to bolster the value of the TRY. Over the years, Turkey has faced geopolitical and economic challenges, an ongoing debt crisis, and rising inflation, combined with strong political pressure to reduce interest rates. The Turkish economy has also been struggling with rising credit default swaps due to limited currency reserves and negative real interest rates.

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