USDTRY - US Dollar / Turkish Lira
Trading Conditions
* Only if Margin Level > 100%
The average spreads provided for each platform are updated on a daily basis to reflect the average for the previous day. Though FxPro attempts to provide competitive spreads during all trading hours, clients should note that these may vary and are susceptible to underlying market conditions. The above is provided for indicative purposes only. Clients are advised to check important news announcements on our Economic Calendar, which may result in the widening of spreads, amongst other instances.
The above spreads are applicable under normal trading conditions. FxPro has the right to amend the above spreads according to market conditions as per the 'Terms and Conditions of Business'.
The USD/TRY currency pair is not widely traded outside Turkey, yet it still has a sizeable following. The performance of the combination is heavily influenced by the correlation between two important global economies: the USA and Turkey. Although the Turkish Lira does not correlate with the Dollar but it often shadows the Euro movements due to the close financial and commercial ties between the two locales. USD/TRY is a wonderful tool for diversification, the combination is best suited to the experienced investor.
Turkey is a large country in south-eastern Europe and south-western Asia, with a population of almost 80 million. Despite the officially secular nature of the state, the Islamic factor has a huge impact on all the processes in the country.
The mild climate and fertile soils contribute to profitable farming. The industry is well developed in the country, especially the food, chemical, and textile industries. The service sector and trade is also quite developed, especially in the resort tourist areas on the coast.
If you are interested in trading the USD/TRY currency pair, contact FxPro today and open trading account in several minutes to test your trading strategy.