Convert 1 IDR to TRY

The Rupiah to Turkish Lira exchange rate is influenced by BI interest rates, commodity prices, inflation, and foreign investment flows, as well as CBRT interest rates, inflation data, political developments, and foreign reserve levels. Both the Bank Indonesia and Central Bank of Turkey play crucial roles in determining the relative strength of these currencies.

The rupiah is the currency of the fourth most populous country on earth and the biggest economy in Southeast Asia so it matters more than people give it credit for. Indonesia exports a load of commodities.. palm oil coal nickel tin.. so commodity prices are a significant driver. The thing about the IDR though is it can get absolutely battered during risk off episodes because foreign investors hold a lot of Indonesian government bonds and when they pull out the rupiah feels it instantly. Bank Indonesia manages the currency fairly actively and theyre not shy about intervening or hiking rates to defend it. USDIDR is the pair to watch and it tends to grind rather than spike.. the central bank smooths things out quite well most of the time. Liquidity isnt amazing compared to major currencies and the onshore market has its own quirks around fixing times. The nickel story has been massive for Indonesia in recent years given the push for EV batteries which is adding a new dimension to the currency. Not one youll find on every brokers platform but for EM Asia specialists its a proper important currency to understand.

Where do you even start with the Turkish lira. This currency has been in freefall for years and its one of the most dramatic depreciations in modern forex history. The core problem has been unorthodox monetary policy where the Turkish government pressured the central bank to cut rates while inflation was running at absolutely mental levels.. were talking 80 plus percent at the peak. Basic economics says you raise rates to fight inflation but Turkey tried the opposite approach and the lira paid the price. USDTRY has gone from about 1.5 to well over 30 in the space of a decade which is staggering. The central bank has more recently shifted back toward orthodox policy with massive rate hikes which has slowed the bleeding but the damage to credibility takes a long time to repair. Turkeys economy actually has a lot going for it.. young population strategic location between Europe and Asia growing manufacturing sector.. but the currency situation has overshadowed everything. Trading the lira is extremely risky because of the swap costs on short TRY positions and the potential for sudden policy U turns. High reward potentially but equally high risk. Not for beginners at all.