This currency pair measures the value of a single US Dollar in Turkish Liras. The New Turkish Lira was adopted in early 2005, following a massive decrease in the previous Lira’s value. Although Turkey is not yet a member of the EU due to political and economic reasons, it is currently a member of the EU’s Common Market. The pair is influenced by reports and decisions of the Federal Reserve, as well as The Central Bank of the Republic of Turkey. Following the USD/TRY currency pair will allow you to receive additional updates.