Forex Exotic
USD/TRY — US Dollar / Turkish Lira
20 – 200+ pips · highly variable
USD/TRY is a structurally trending exotic driven by Turkish inflation and policy credibility. Carry costs on short positions are extreme and spreads widen violently.
Risk first
Numbers below are typical ranges, not guarantees — spreads, swaps and volatility differ per broker and market regime. Size every position from your stop distance and account risk, never from a fixed lot habit.
Contract specifications
| Spec | Value |
|---|---|
| Contract size | 1.00 lot = 100,000 USD |
| Pip / tick value | 0.0001 → variable, small in USD terms |
| Typical spread | 20 – 200+ pips |
| Typical daily range | highly variable |
| Best trading hours | European session |
What moves this market
- ▸Turkish inflation and CBRT policy
- ▸Political interference in monetary policy
- ▸Reserve levels and capital controls
Correlations to watch
- ▸Loosely tied to broad EM currency stress
- ▸Low correlation to G10 pairs
How traders approach it
- ▸Long-term trend positions with tiny size
- ▸Avoid shorting purely on "it went too far"
- ▸Account for swap in every plan
Typical mistakes
- ▸Ignoring gap risk and sudden policy shocks
- ▸Using normal position sizing on an exotic
Related instruments
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