EUR/TRY

EUR/TRY — Euro and Turkish Lira

Turkey is the EU's sixth-largest trading partner and hosts the fourth-largest diaspora in Europe (primarily Germany, Austria, Netherlands). EUR/TRY is the single most important rate for Turkish remittances.

EUR/TRY is the primary exchange rate for Turkey's relationship with its largest trading partner, the European Union. Turkey has been in EU customs-union arrangements since 1995 and continues to trade heavily with EU countries, making EUR/TRY the most commercially relevant pair for Turkish businesses.

The lira has experienced severe depreciation over the 2010s and 2020s due to high inflation, unconventional monetary policy episodes, and political pressure on the central bank. EUR/TRY has increased from around 2 in 2010 to well above 30 by 2024, representing a structural long-term trend.

For Turkey's large diaspora in Germany, Austria, and the Netherlands — estimated at over 4 million people — EUR/TRY is the most practically important rate. Remittances converted at this rate affect household finances directly.

Rates are indicative from aggregated market data and public reference rates. Not for settlement. Past rate levels do not predict future direction.

Frequently asked questions

What caused the long-term EUR/TRY uptrend?

Turkey's persistently higher inflation relative to the Eurozone has eroded TRY's purchasing power. Periodic unconventional monetary policy episodes (cutting rates during inflation spikes) accelerated the depreciation, with the lira losing over 80% against EUR between 2018 and 2024.

How does the CBRT affect EUR/TRY?

Central Bank of the Republic of Turkey rate decisions directly move TRY. Aggressive rate cuts (even during inflation) historically caused sharp EUR/TRY spikes. Since 2023 orthodox tightening has periodically stabilized TRY, though structural pressures remain.

Is EUR/TRY important for Turkish exporters?

Yes. Turkish exporters invoicing in EUR benefit when EUR/TRY rises (their TRY revenues increase). Import-heavy businesses face the reverse — a rising EUR/TRY raises their TRY cost for EUR-priced goods.

What is the EUR/TRY rate for the Turkish diaspora in Germany?

Germany has the largest Turkish diaspora in Europe (~3 million people). EUR/TRY is the rate at which remittances are converted. Services aggregate live rates; the mid-market shown here is the rate before transfer fees.

Does EU accession risk affect EUR/TRY?

EU membership discussions have been stalled since the 2010s. Their resumption could represent a significant long-term TRY positive; ongoing divergence or friction adds risk premium to TRY on top of domestic fundamentals.

Does the API provide live intraday EUR/TRY rates?

Yes. Both EUR and TRY are in the live-updating currency set. /v1/latest/EUR?symbols=TRY returns a live rate updated every ~60 seconds through the trading week, with source and market_session on every response.

Is EUR/TRY available in historical ECB data?

Yes. The ECB has published a daily TRY reference rate since 2005. Earlier data (1999–2005) can be computed via the old Turkish lira (TRL) series with appropriate denomination conversion. The API's /v1/range endpoint returns available ECB daily data.