The official currency of Turkey, abbreviated as TRY and issued by the Central Bank of the Republic of Turkey. The lira has experienced significant depreciation in recent years due to high inflation, unconventional monetary policy decisions, and geopolitical uncertainties. It is actively traded in the forex market and is considered an emerging-market currency with higher volatility compared to G10 currencies.
Example
“EUR/TRY surged past 30.00 after the Turkish central bank held rates steady despite inflation running above 60%, weakening the lira further.”