Currency Guide
Short, sourced explanations for reading rates correctly. Every statement that can change shows its source and when we last checked it.
Banknote (efektif) rate vs forex rate
The forex rate is for transfers between accounts, the banknote (efektif) rate for banknotes. The CBRT bulletin lists them separately; banknote spreads are usually wider.
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The CBRT rate and invoices: reading the daily bulletin
CBRT rates are announced once every business day in a daily bulletin, so two bulletins are candidates for a date. The relevant legal texts and how to find a lira value.
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The buy-sell spread on currencies: what it is and how it is calculated
The spread is the gap between the buying and selling price: how it is calculated, why it differs by institution and by hour, and where our pages show it.
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Why do exchange rates look different at the weekend?
The international currency market is closed at the weekend and the CBRT publishes no bulletin. What a rate shown while the market is closed means, and why it differs.
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Tether (USDT) vs the US dollar
Tether (USDT) is a crypto asset meant to track the dollar; it is not the dollar. Why its price can drift from the dollar rate, and its legal status in Türkiye.
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What is the Iranian toman? Toman, rial and lira
Iran's official currency is the rial; everyday prices are quoted in toman (1 toman = 10 rials). Where our toman rate comes from and how to read it.
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