Euro / Turkish Lira

EUR/TRY, also written as Euro/TL, shows how many Turkish lira one euro is worth. Because the European Union accounts for a large share of Turkey's foreign trade, the euro rate matters to exporters, importers, the tourism sector and many people with ties to Europe. The euro came into use in 1999 as the common currency of the eurozone countries.

The movement of EUR/TRY is made up of two separate components: the general depreciation or appreciation of the Turkish lira, and the euro's path against the dollar. As a result, even when USD/TRY is flat, a change in the EUR/USD parity can push the euro rate up or down. European Central Bank interest rate decisions, the CBRT's monetary policy and the inflation gap between the two economies are the main drivers.

The EUR/TRY value shown on Lzzo.com is a market reference rate sourced from Yahoo Finance, not a bank buy/sell price. The buy and sell rates of banks and exchange offices differ from this value because of spreads and commissions, and the price applied to physical cash transactions can vary further.