Turkish Lira (TRY) Live Exchange Rate & Remittance Guide

About the Turkish Lira

The modern Turkish Lira was reintroduced in 2005 at a 1:1,000,000 ratio to the old lira after years of hyperinflation. The currency has experienced multiple sharp depreciations since 2018 amid unconventional monetary policy. The CBRT returned to orthodox tight monetary policy in mid-2023, slowing the depreciation.

Why TRY matters for remittance

Turkey receives roughly $1 billion in formal remittances annually — modest relative to its economy. The Turkish diaspora in Germany (3 million+), Netherlands, France, Switzerland, and the United States is the main source. Remittance flows are also significant from the UK, Saudi Arabia, and the UAE.

Compare TRY corridors

See live rates and the best providers for each pair.

Turkey remittance guide

Country profile for sending money TO Turkey — delivery methods, regulations, recipient guidance.

TRY remittance regulations

CBRT and BDDK regulate inbound remittances. Personal transfers under USD 50,000 per year require minimal documentation. The 2024 CBRT pivot to higher interest rates has reduced FX restrictions; recipients can hold USD/EUR in domestic FX accounts.

How to send Turkish Lira (TRY)

1. 1

   Use a CBRT-approved provider — Wise, Remitly, Western Union, and PayPal Xoom all qualify.

2. 2

   Bank deposit to Garanti BBVA, İş Bankası, Akbank, Yapı Kredi, or Ziraat is the standard delivery method.

3. 3

   FAST is Turkey's domestic instant payment rail and is increasingly supported by international providers.

4. 4

   Recipients can opt to receive funds in USD or EUR (held in FX accounts) instead of TRY to preserve value.

Currency facts

ISO 4217

949

Sub-unit

100 kuruş = 1 lira

Central bank

Central Bank of the Republic of Türkiye (CBRT)

Daily FX volume

$10 billion/day

Symbol

₺

52-week range (vs USD)

31.8 – 33.5

Frequently asked questions