Turkish Lira RateTRY/MDL
Currency calculator
100,00 TRY =
38,58 MDL
1 TRY = 0.3858 MDL · 1 MDL = 2.5920 TRY
History TRY/MDL
The Turkish Lira (TRY) and Moldovan Leu (MDL)
The Turkish lira is the official currency of the Republic of Turkey, the largest economy in the Black Sea region and a G20 member. Its ISO 4217 code is TRY, and its symbol is the lira sign. The modern Turkish lira was redenominated in 2005, removing six zeros from previous banknotes. The TRY/MDL exchange rate reflects the commercial, investment, and cultural ties between Turkey and Moldova — two countries connected by geographic proximity and cooperation within the Organization of the Black Sea Economic Cooperation (BSEC).
Turkish Investments in the Moldovan Economy
Turkish capital maintains a significant presence in Moldova's economy. Turkish companies are active in the construction, textiles, building materials, and retail sectors. Turkish construction firms have participated in major infrastructure projects in Moldova, including commercial and residential developments. The Turkish textile sector collaborates with Moldovan manufacturers within regional supply chains. These investments and partnerships generate steady financial flows between TRY and MDL.
Lira Volatility Lessons for Small Open Economies
The Turkish lira has experienced periods of significant volatility, particularly since 2018, losing a considerable portion of its value against the US dollar and euro. This experience offers valuable lessons for small open economies like Moldova: the importance of central bank independence, the dangers of unconventional monetary policy, the impact of foreign-currency-denominated external debt, and the role of investor confidence in exchange rate stability. The National Bank of Moldova can study the Turkish experience to calibrate its own policy responses.
Turkish Airlines and Moldova-Turkey Connectivity
Turkish Airlines operates direct flights between Chisinau and Istanbul, connecting Moldova with one of the world's largest aviation hubs. This air link facilitates tourism, business travel, and transit for Moldovans heading to destinations across Asia and Africa. The presence of Turkish Airlines in Moldova stimulates demand for TRY/MDL conversion and contributes to the visibility of bilateral economic relations.
Cooperation within BSEC
Moldova and Turkey are both members of the Organization of the Black Sea Economic Cooperation (BSEC), headquartered in Istanbul. BSEC promotes regional cooperation in trade, transport, energy, and tourism. Turkey, as the largest economy in BSEC, plays a central role in the organization's initiatives. For Moldova, participation in BSEC provides a platform for diversifying trade relationships and accessing regional infrastructure projects.
Turkey-Moldova Bilateral Trade
Turkey is an important trading partner for Moldova. Turkish exports to Moldova include textiles, industrial equipment, building materials, chemicals, and processed foods. Moldova exports agricultural products to Turkey, particularly grains, sunflower oil, and fruits. The free trade agreement in force between the two countries facilitates bilateral commerce and contributes to demand for TRY/MDL conversion on the foreign exchange market.
FAQ
Why has the Turkish lira lost so much value and how does this affect transfers to Moldova?
The Turkish lira has undergone significant depreciation due to unconventional monetary policy, high inflation, and geopolitical tensions. For Moldovans receiving transfers from Turkey, lira depreciation reduces the purchasing power of amounts sent. It is important to monitor the TRY/MDL rate and choose optimal timing for transfers.
What Turkish investments exist in Moldova?
Turkish companies operate across several sectors of the Moldovan economy: construction (residential and commercial projects), textiles and garment manufacturing (production and supply chain partnerships), building materials, retail, and services. Turkey is one of the significant regional investors in Moldova's economy.
Is there a direct flight between Chisinau and Istanbul and how does it facilitate currency exchange?
Yes, Turkish Airlines operates direct flights between Chisinau and Istanbul, connecting Moldova with one of the world's largest aviation hubs. This air link stimulates tourism and business travel, generating demand for TRY/MDL conversion. Istanbul Airport also offers connecting flights to destinations across Asia, Africa, and the Middle East.
What is BSEC and how does Moldova benefit from cooperation with Turkey within this framework?
BSEC (Organization of the Black Sea Economic Cooperation) is a regional organization headquartered in Istanbul, of which both Moldova and Turkey are members. BSEC promotes cooperation in trade, transport, energy, and tourism. For Moldova, BSEC provides access to regional infrastructure projects and a platform for diversifying trade relationships beyond the EU.
What lessons can Moldova learn from the Turkish lira volatility experience?
The Turkish experience highlights the importance of central bank independence, the risks of politicized monetary policy, the danger of excessive foreign-currency external debt, and the critical role of investor confidence. For the NBM, the Turkish case demonstrates the value of prudent and transparent monetary policy in stabilizing the Moldovan leu exchange rate.
What are the main goods traded between Turkey and Moldova?
Turkey exports textiles, industrial equipment, building materials, chemicals, and processed foods to Moldova. Moldova supplies grains, sunflower oil, fruits, and other agricultural products to Turkey. A bilateral free trade agreement facilitates these exchanges and supports the growth of mutual trade volumes.