Trading hours
Typically open from Sunday 22:00 to Friday 22:00 UK time (5pm to 5pm New York time), with a short pause around the 22:00 rollover each weekday at some brokers. Times on your chart follow your broker's server clock. Spreads are usually wider than on the major pairs and liquidity is thinner outside the local working day. Some brokers quote USD/TRY on shorter hours or with higher margin, so check your broker's contract specifications.
| When | UK time | New York time | Note |
|---|---|---|---|
| Weekly open | Sunday 22:00 | Sunday 17:00 | Typically, at most CFD brokers. The first minutes can have very wide spreads on this pair, and some brokers start quoting a little later. |
| Daily rollover | 22:00 each weekday | 17:00 | The trading day ends and overnight financing (swap) is charged. Spreads on exotic pairs widen sharply for several minutes either side, and some brokers pause quotes briefly. |
| Friday close | Friday 22:00 | Friday 17:00 | Typically. Many brokers stop about 5 minutes early on Fridays. Closed all of Saturday. |
| Underlying market | Istanbul working day about 06:00 to 15:00 (UK winter) | 01:00 to 10:00 | Turkey stays on one clock all year, three hours ahead of UK winter time and two ahead of UK summer time. |
| Busiest hours | 06:00 to 15:00 | 01:00 to 10:00 | The Istanbul working day, overlapping with London from 07:00 UK. |
Forex hours are set by New York time: the week opens and closes at 5pm New York time. For most of the year that is 22:00 UK time. The UK and the US change their clocks on different dates, so for a few weeks a year it is 21:00 UK instead. In 2026 the UK went back on 25 October and the US on 1 November, so the week of 26 to 31 October closed at 21:00 UK. In 2027 the US moves forward on 14 March and the UK on 28 March, so those two weeks also close at 21:00 UK. US data at 8:30am New York time lands at 13:30 UK for most of the year and 12:30 in the gap weeks. Your chart times follow your broker's server clock, which many brokers set two hours ahead of UK winter time so each daily candle starts at the 5pm New York rollover. Turkey does not change its clocks, so the CBRT's 14:00 Istanbul announcement is 11:00 UK in the UK winter and 12:00 UK in the UK summer.
What is USD/TRY?
USD/TRY is the price of one US dollar in Turkish lira. If the price rises, the dollar is strengthening against the lira; if it falls, the lira is strengthening.
Turkey has had high inflation for several years, and the lira has lost a lot of value against the dollar over that time. That gives the pair a long running upward drift, high interest rates and a large financing cost or credit for holding it overnight. Exotic pairs typically have much wider spreads than the majors, and liquidity can be thin outside the local working day, at the daily rollover and around local holidays, so prices can jump or gap. Liquidity in the lira is thin outside Istanbul hours.
The trading sessions
Very thin. Spreads can be extremely wide and prices can jump.
The most liquid window. Turkish data and CBRT decisions land here.
US data moves the dollar side, but liquidity in the lira fades after Istanbul closes.
Contract facts
One pip is 0.0001 (the fourth decimal place). Most brokers quote a fifth decimal, a tenth of a pip, often called a pipette or point.
1 standard lot = 100,000 US dollars. A mini lot (0.1) is 10,000 and a micro lot (0.01) is 1,000.
One pip on 1 standard lot is worth 10 Turkish lira (100,000 x 0.0001). On a mini lot it is 1 Turkish lira. Your broker converts that into your account currency at the current rate.
Most retail traders use spot or CFDs on USD/TRY; lira futures exist but are not widely used by retail traders.
How far it usually moves
Varies; check the Average daily range indicator. It averages the distance from each day's high to its low (by default over the last 14 days) and draws the expected high and low for today. We do not quote a fixed number because the range changes with news and volatility.
What moves USD/TRY
Central Bank of the Republic of Turkey rate decisions and any change in its policy approach.
Monthly consumer prices, which have been high for years.
Government and central bank leadership changes have caused some of the lira's biggest moves.
News about the central bank's foreign currency reserves and state bank dollar selling.
Emerging market sell offs tend to hit the lira.
US rates and data move the dollar side.
Scheduled events to watch
Eight meetings in 2026, announced at 14:00 Istanbul time; the bank's calendar lists 10 December 2026 as the next meeting.
Published monthly by TurkStat; it shapes expectations for the CBRT.
The US rate sets the price of the dollar side of the pair; next decision 9 December 2026, then 27 January 2027.
Usually the first Friday of the month (next: 6 November and 4 December 2026) and often the biggest dollar mover of the month.
What it tends to move with
Tends to rise with USD/ZAR and USD/MXN in broad emerging market sell offs.
Tends to rise when the dollar strengthens broadly, on top of its own long upward drift.
Local policy has often overridden every other influence. Treat any link as weak.
Tips for trading USD/TRY
Account for the spread
Spreads on USD/TRY are wider than on the majors, so a stop that would be fine on EUR/USD can be too tight here. If the stop needs to sit beyond a real level, cut the lot size; the idea is wrong if price closes beyond that level.
Check the swap first
The large interest rate gap makes holding overnight costly in one direction. Read your broker's swap rate before holding; a trade plan that only works with no financing cost is wrong from the start.
Trade Istanbul hours only
Keep to 06:00 to 15:00 UK. A move in the Asian session that reverses once Istanbul opens has failed.
Respect CBRT day
Wait for the first 15 minute candle after 11:00 UK (winter) to close. A break of its high or low is the idea; a close back through the other side proves it wrong.
Expect gaps
Weekend policy news can move the price far from Friday's close. A stop does not protect against a gap; size so that a gap would not break your account.
Connect your cTrader account once and USD/TRY appears on WickSpeak at your own broker's prices, with key levels (pivots, previous day high and low, average daily range levels, round numbers) each showing how many pips away it is, and a plain-English reading on the live candle from every indicator. If your broker lists USD/TRY, it appears alongside your other markets. A Playbook play on this pair can send an alert, draw a trade plan, paper trade, or place a live trade inside guardrails you set, but only if you switched live trading on for that play.
Related markets
Sources: tcmb.gov.tr, tcmb.gov.tr, azernews.az, bis.org, federalreserve.gov, bls.gov, pepperstone.com. Checked 2026-11-05. Broker hours follow your broker's server clock and can differ.
Questions traders ask
What is the best time to trade USD/TRY?
From about 06:00 to 15:00 UK time, the Istanbul working day, when liquidity in the lira is best. Outside those hours spreads can be extremely wide. Some brokers limit the hours they quote it, so check yours.
Why does USD/TRY keep rising over time?
Turkey has had high inflation for years, which steadily reduces what the lira can buy, and the exchange rate has tended to reflect that. The pace has changed with central bank policy. Past drift is not a forecast.
How much is one pip on USD/TRY?
One pip is 0.0001. On 1 standard lot of 100,000 US dollars it is worth 10 lira, which your broker converts to your account currency at the current rate.
What time does the CBRT announce rates in UK time?
The Central Bank of the Republic of Turkey announces at 14:00 Istanbul time. Turkey does not change its clocks, so that is 11:00 UK in the UK winter and 12:00 UK in the UK summer.
Does USD/TRY trade at weekends?
No. USD/TRY typically closes on Friday at 22:00 UK time and reopens on Sunday at 22:00 UK time. News over the weekend can make Sunday's first price differ from Friday's close, which is called a gap.