GBP/TRY

GBP/TRY

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GREAT BRITAIN POUND / TURKISH LIRA Trading

Τhe Britain pound (GBP) and the Turkish Lira (TRY) is exotic currency pair that offer attractive investment opportunities to forex traders. The GBP is one of the world's major currencies, whilst the TRY is one of the world's more exotic currencies. The GBP/TRY may become a pair of choices for many CFD traders as it offers a more volatile but less liquid environment.

History of GBP TRY Trading

The Great British pound (GBP) is the 4th most traded currency in the forex market after the United States dollar, the Euro, and the Japanese yen. Along with those 3 currencies and the Chinese yuan, it forms the basket of currencies which calculate IMF special drawings rights value. The British pound represents the oldest currency in continuous use. It is the official currency of the Sandwich Islands, the Guernsey, Jersey, British Antarctic Territory, the Isle of Man, Tristan da Cunha, and the Isle of Man United Kingdom.

The Turkish lira was introduced in early 2005, and it was equivalent to 1M of the old Turkish lira. Throughout its history, the currency has been pegged to the British pound, French franc, and both hard and soft pegging to the U.S dollar. Today, there is no longer an explicit peg, but Turkey actively intervenes in the currency markets and influences the Turkish lira's value.

GBP/TRY Forex Chart
Instrument: GBP/TRY
Spread: floating
Leverage: 20:1
Margin: 5.00%
Minimum Nominal Trade Size: 1000
Overnight Interest (daily) Sell: -5.65%
Overnight Interest (daily) Buy: -1007.32%
Trading Hours (GMT): 24/5
MT5 / MT4 Symbol: GBP/TRY

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GBP/TRY Trading FAQs

The best time to trade the GBP/TRY is when both the London and Istanbul markets are open. From around 07:00 GMT to 15:00 GMT, most news concerning both regions comes out around this time period. Outside of these hours, trading volumes tend to be very thin.

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