What is EUR/TRY (EURTRY) and how can I trade it?

EUR/TRY (EURTRY) is a forex CFD available on SimpleFX. You can trade it by creating a free account, depositing funds, and opening a position directly from the trading platform. No minimum deposit is required.

What is the spread on EURTRY?

The target spread on EURTRY at SimpleFX is 0.03054 pips. SimpleFX uses a spreads-only pricing model with no additional commissions.

What leverage is available for EURTRY?

EURTRY can be traded with up to 1:100 leverage on SimpleFX, which corresponds to a margin requirement of 1.00%. Leverage amplifies both potential gains and losses.

What currency is EURTRY margined in?

EURTRY positions on SimpleFX are margined in TRY. Your account balance in TRY is used to cover the margin requirement for this instrument.

What is the contract size for EURTRY?

The standard contract size for EURTRY on SimpleFX is 100000. Position sizes are calculated based on this contract unit.

EURTRY exchange rate

EUR/TRY

51.8885 TRY

-0 (-0.44%)

1MN

EURTRY Key Statistics

Open price

52.09308

High today

52.21214

Low today

51.74184

52 Week high

52.46626

52 Week low

42.09955

Trading hours

-12:00

-11:00

-10:00

-09:00

-08:00

-07:00

-06:00

-05:00

-04:00

-03:00

-02:00

-01:00

UTC 00:00

+01:00

+02:00

+03:00

+03:30

+04:00

+04:30

+05:00

+05:30

+05:45

+06:00

+07:00

+08:00

+09:00

+09:30

+10:00

+11:00

+12:00

+12:45

+13:00

+14:00

UTC 00:00

Symbol trading specification

Trade EUR/TRY

About EURTRY

Euro and Turkish Lira forex market (EURTRY) is one of the major forex markets for the Eurasian region. Europe and Turkey have an enormous trade surplus, so the two economies remain tied. It's better to understand more about the two currencies and their price elasticity to know the best investment for your case.

What is EURTRY?

The EURTRY is the market that determines the price between the Euro and the Turkish Lira. It happens automatically as the central banks for the two regions make decisions about the overnight interest rates.

The two markets are based in Istanbul and Frankfurt, respectively. There are certain rules and timeframes under which both currencies trade freely and adjust their prices. Investors willing to understand how to trade EURTRY have to keep that timeframe in mind.

How does the EURTRY work?

It works through trading in the forex market on online platforms like SimpleFX. It provides solutions such as a demo account, which enables traders eager to learn how to invest in EURTRY start without risking their real assets.

The European Central Bank requires to have some Turkish Lira in its balance sheet to ensure that the trade for goods and services with Turkey will not get disrupted. There is an online platform where TRY and EUR bids happen all day. However, you need to know the best time to bid for either EUR or TRY to make as informed decision as possible.

EURTRY price history

The latest history for the EURTRY index is presented below. However, Investors must remember that referring to the past performance of this asset may not be a reliable indicator of future results.

2018

During 2018 the Turkish Lira was close to the area of 6 Liras per 1 Euro. That reflected the power of the Turkish economy at that time. It reached the area of 8 Liras per 1 Euro during the summer of 2018, mainly due to political conflict in Turkey that was later eased.

2019

The year was one of the most stable for the Turkish economy. The Lira was powerful enough and remained stable at an area of 6.6 Liras per 1 Euro. That depicted the trust of the global economy in Turkish and the great demand for Turkish goods and services since most of the Western economies have manufacturing capacities in Turkey to lower their production costs.

2020

We have seen some upward trends in the EURTRY during 2020. The Turkish Lira plummeted to the area of 7.7 Liras per 1 Euro. That was the lowest point to reach historically, and there were more to come later.

2021

During 2021 the EURTRY marker plummeted more than it had within two decades. The average price was close to 11 Turkish Liras per 1 Euro. That showed the decreased outlook for the Turkish economy that showed more ties to the Russians than the NATO alliance and the Western Economic block.

2022

2022 was the worst year ever for the Turkish economy. As the inflation rate increased, the value of the Turkish Lira plummeted to 18.5 Liras for 1 Euro, the lowest of all times. That created a mess for the Turkish Central Bank, which needed to use all its forex supplies to support its currency and protect the economy from a hard bankruptcy and the International Monetary Fund intervention.

Current EURTRY price

The current EURTRY price is subject to fluctuation due to the volatility of the forex market. Investors can check it on the chart or the SimpleFX Webtrader platform.

Is EURTRY a good investment?

Whether EURTRY is a good investment depends on factors such as interest rates, monetary policies, geopolitical events, etc. The answer depends on analyzing these factors and the potential returns on investment. If the factors are also stable and there are more chances of return, this currency pair brings more interest from investors eager to learn how to invest in forex worldwide.