EUR/TRY explained

• EUR
• TRY

What EUR/TRY is

EUR/TRY is the euro priced in Turkish lira. The euro is the base currency (the first in the pair) and the lira is the quote currency (the second). The price shows how many lira one euro buys.

When the quote rises, the euro is gaining against the lira, or the lira is losing against the euro. When it falls, the opposite is happening. On most platforms the symbol is written EURTRY, without the slash.

EUR/TRY is an exotic pair: a major currency against the currency of a smaller or emerging economy. See Majors, minors, exotics for how this group differs from pairs like EUR/USD.

How to read the quote

A platform shows a bid (the price you can sell at) and an ask (the price you can buy at). The gap between them is the spread, which is a trading cost paid when you open a position.

On exotic pairs the spread is usually much wider than on majors, and it can widen further when liquidity is thin or news hits.

Pip size and pip value per lot

A pip is the standard unit of price movement for a pair. The exact pip size and the number of digits for EURTRY are set by the broker. Check them in the symbol specification in your platform.

Pip value is calculated in two steps:

1. Pip size multiplied by the contract size of your position gives the pip value in the quote currency, Turkish lira.
2. That lira amount is converted into your account currency, such as USD, at the current rate.

Because the lira rate changes, the pip value in USD also changes over time, even if your lot size stays the same. Use the calculator below instead of a fixed figure.

What moves the euro

• ECB policy. European Central Bank interest rate decisions and guidance on future policy.
• Euro-area inflation. Inflation releases shape expectations for ECB decisions.
• PMIs. Purchasing Managers' Index surveys show whether business activity is expanding or contracting.
• German data. Germany is the largest euro-area economy, so its output, sentiment and inflation figures carry weight.
• Energy prices. The euro area imports much of its energy, so gas and oil prices affect growth and inflation.

What moves the Turkish lira

• CBRT policy credibility. Markets watch whether the Central Bank of the Republic of Türkiye sets rates in line with inflation and keeps to its stated path. Unexpected decisions or policy changes can move the lira sharply.
• Very high inflation. Türkiye has had long periods of very high inflation, which erodes the lira's value over time.
• Current account. A persistent deficit means the country needs steady foreign funding, which leaves the lira sensitive to shifts in capital flows.
• Reserves. The level of central bank foreign-currency reserves affects how well the lira can be supported in stress.
• Political and geopolitical news. Elections, government changes and regional events can trigger large moves.

For the wider method behind these drivers, see Fundamental analysis. The sister pair USD/TRY shares the lira-side drivers.

Liquidity by session and spread behaviour

• European session. This is usually the most active period for EUR/TRY, because both euro and Turkish markets are open. Spreads tend to be at their narrowest here.
• US session. Activity continues, but it usually fades later in the day.
• Asian session and late hours. Liquidity is thin. Spreads often widen and prices can jump.
• Daily rollover and weekends. Spreads commonly widen around the daily rollover. Over the weekend the market is closed. If major news breaks then, the Monday open can gap, meaning it jumps past your stop-loss level. A stop then fills at a worse price than you set.

Swaps and holding positions

A swap is the interest adjustment charged or credited for holding a position overnight. Exotic pairs with a high interest-rate gap often carry large swaps, and these can add up quickly.

Exness lists Pakistan among the countries where clients are assigned swap-free status automatically: Algeria, Azerbaijan, Bahrain, Bangladesh, Brunei, Chad, Comoros, Côte d'Ivoire, Djibouti, Egypt, Indonesia, Iraq, Jordan, Kazakhstan, Kyrgyzstan, Kuwait, Lebanon, Libya, Maldives, Mauritania, Morocco, Niger, Oman, Pakistan, Qatar, Saudi Arabia, Senegal, Tajikistan, Tunisia, Turkiye, Turkmenistan, United Arab Emirates, Uzbekistan. Swap-free status depends on trading activity and can be lost: by default all accounts are swap-free on listed instruments; the status can be lost. Check the status and the EURTRY swap in your Personal Area. See Swap fees and Islamic finance.

Trading EUR/TRY on Exness

We have no sourced confirmation that EURTRY is listed on Exness, or of its specification. Before relying on any detail, open the symbol list in your platform and check:

• whether EURTRY is offered on your account type,
• its contract size, digits, spread, swap and trading hours,
• its margin requirement and maximum leverage.

Some general Exness conditions are sourced:

• Minimum lot on standard instruments: 0.01 lot.
• The sourced list of instruments eligible for unlimited leverage is Forex majors and minors, DXY, USDCNH, HKDJPY, USDHKD, USDTHB; all commodities except XAUUSD247; BTCUSD, BTCUSDT, ETHUSD, ETHBTC. EURTRY is not named there, so expect a different leverage limit. Check the actual limit in the platform.
• Higher margin requirements apply to orders opened from 15 minutes before to 90 seconds after high-impact news; for forex this is 1:200 (0.5%).

Use the margin calculator to see how much margin a position needs at a given leverage.

More general detail is on Forex trading and Account types.

Risk and the law in Pakistan

Leveraged CFD and forex trading can lose money fast. With a volatile exotic pair like EUR/TRY, a single move or gap can wipe out a position. Read Risk management before trading.

Pakistani law is also relevant:

• Sending money abroad: per the SBP, remitting foreign exchange to overseas forex/margin/CFD platforms is not allowed through any payment channel (FERA s.5(1)).
• Buying offshore products: per the SBP, the purchase of offshore forex/margin/CFD products by Pakistani residents violates section 4(1) of FERA 1947.
• Legal protection: per the SECP, offshore platforms have no Pakistani licence or oversight and offer no legal protection or recourse.

Details are on Law and regulators.

Frequent questions

What does EURTRY mean?

It is the price of one euro in Turkish lira. A rising quote means the euro is strengthening against the lira.

Is EUR/TRY a major pair?

No. It is an exotic pair. It usually has wider spreads, larger swaps and more gap risk than majors.

How do I find the pip value for EURTRY?

Multiply the pip size by the contract size to get a value in lira, then convert it to your account currency. The pip calculator on this page does this for you.

Is EURTRY available on Exness?

We have no sourced confirmation. Check the symbol list and the specification in your platform or Personal Area.

Why can the spread on EUR/TRY become very wide?

Liquidity is thin outside the main European hours, and lira news can be sudden. Brokers widen spreads when liquidity drops.

Are there similar pairs to compare?

Yes. See USD/TRY and EUR/ZAR explained.