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base info Mantle

Mantle to Turkish Lira Converter and calculator

Convert 1Mantle (MNT) to Turkish Lira (TRY) equals ₺ 36.09 | Bitget

TRY information

About the Turkish Lira (TRY)

What Is the Turkish Lira (TRY)?

The Turkish Lira, represented by the symbol ₺ and the ISO code TRY, is the official currency of Turkey and Northern Cyprus. It is divided into 100 smaller units called kuruş. The lira, which has a rich history dating back to the Ottoman Empire, has undergone significant transformations over the years.

The Turkish Lira is issued by the Central Bank of the Republic of Turkey, which is the country's central bank. It is responsible for regulating and issuing the Turkish Lira as the official currency of Turkey. The Central Bank of Turkey is also responsible for monetary policy and maintaining the stability of the Turkish Lira in the financial markets.

What Is the History of TRY?

The lira's roots can be traced back to the ancient Roman unit of weight, the libra. The Ottoman lira was introduced in 1844, replacing the kuruş as the main unit of account. The first Turkish lira was introduced in 1923. Over the years, the lira experienced various pegs to foreign currencies, including the sterling and the franc, and later the US dollar. However, due to persistent devaluation, the lira's value fell drastically, leading to its ranking as the world's least valuable currency in certain years. In 2005, a significant revaluation occurred with the introduction of the new Turkish lira, which removed six zeros from the old currency. This change aimed to stabilize the currency and simplify financial transactions.

Notes and Coins of TRY

The coin denominations include 1, 5, 10, 25, and 50 kuruş, as well as the 1 lira coin. Each coin showcases distinct Turkish symbols and landmarks, such as the snowdrop on the 1 kuruş and the Bosphorus Bridge on the 50 kuruş. The banknotes, on the other hand, come in denominations of 5, 10, 20, 50, 100, and 200 liras. They are adorned with portraits of prominent Turkish figures, including Mustafa Kemal Atatürk.

Economic Challenges and Currency Crisis

The Turkish lira has faced significant challenges, particularly since 2018. Factors such as political influence on monetary policy, unorthodox banking methods, and external economic pressures have led to rapid inflation and depreciation of the lira. Despite attempts to stabilize the currency, including interest rate adjustments, the lira has continued to struggle, experiencing record lows against major currencies like the US dollar.

Is TRY A Stable Currency?

The Turkish Lira has been facing significant instability, marked by a notable depreciation against major currencies and high inflation rates. The lira's volatility is largely attributed to unconventional economic policies and political influence on monetary decisions. For instance, the lira experienced a dramatic decline in value, with inflation soaring to over 80% in 2022, as reported by various financial sources. This economic turbulence has been further exacerbated by global economic pressures and geopolitical factors. The currency's rapid devaluation was highlighted by its steep fall against the US Dollar, where it lost over 400% of its value since 2008.

Is TRY Pegged to Other Currencies?

The Turkish Lira (TRY) is not pegged to any specific foreign currency. Historically, Turkey has used various exchange rate regimes, including fixed pegs to foreign currencies, such as the US Dollar, in the past. However, the country transitioned to a more flexible exchange rate regime, which allows the lira's value to be determined by supply and demand in the foreign exchange market.

This move towards a floating exchange rate system occurred after the 2001 economic crisis in Turkey, which led to a major devaluation of the currency. Since then, the Turkish government has generally allowed the lira to float freely, with occasional interventions in the foreign exchange market to stabilize extreme fluctuations.

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Bitget crypto-to-fiat exchange data shows that the most popular Mantle currency pair is the MNT to TRY, with for Mantle's currency code being MNT. Use our cryptocurrency calculator now to see how much your cryptocurrency can be exchanged for TRY.

MNT to TRY conversion rate trend

1D7D1M3M1YAll
In the past 1D, Mantle has changed -4.34% to TRY. Based on the trend and price charts, Mantle(MNT) has changed -4.34% to TRY while Turkish Lira(TRY) has changed % to MNT in the last 24 hours.

Conversion rate comparison of various exchanges

ExchangePriceMaker / Taker FeeTradable
Bitgethot-iconBest
₺36.09
0.0001% / 0.0004%vip-iconVIP
Huobi
₺36.57
0.1000% / 0.1000%
Yes
Gate.io
₺36.64
0.1000% / 0.1000%
Yes
Bybit
₺36.66
0.1000% / 0.1000%
Yes
KuCoin
₺36.64
0.1000% / 0.1000%
Yes
Last updated 2024/04/14 11:00:35(UTC+0)

What factors influence the conversion rate of Mantle to Turkish Lira?

Mantle to Turkish Lira is falling this week.
Mantle's current market price is ₺ 36.09 per MNT, with a total market cap of ₺ 117,824,368,239.82 TRY based on a circulating supply of 3,264,441,600 MNT. The trading volume of Mantle has changed by +35.75% (₺ 1,225,794,596.53 TRY) in the last 24 hours. Last trading day, MNT's trading volume was ₺ 3,429,103,014.89.
Market cap
$3.64B
24h volume
$143.84M
Circulating supply
3.26B MNT

Conversion tables

The exchange rate of Mantle is increasing.
1 MNT is currently valued at ₺ 36.09 TRY , which means buying 5 MNT will cost ₺ 180.47 TRY . Similarly, ₺1 TRY can be traded for 0.02771 MNT, and ₺50 TRY can be converted to 1.39 MNT, excluding any platform or gas fees.
The exchange rate of 1 MNT to Turkish Lira has changed by -21.50% in the last 7 days. In the last 24 hours, the rate has fluctuated by -4.34%, reaching a high of 39.33 TRY and a low of 32.85 TRY . One month ago, the value of 1 MNT was ₺ 28.6 TRY , which represents a +26.50% change from its current value. Over the last year, Mantle has changed by
+
3.42TRY
, resulting in a change of --% in its value.

MNT to TRY

Amount
11:28 am today
0.5 MNT
18.05
1 MNT
36.09
5 MNT
180.47
10 MNT
360.93
50 MNT
1,804.66
100 MNT
3,609.33
500 MNT
18,046.63
1000 MNT
36,093.27

TRY to MNT

Amount11:28 am today
0.5TRY0.01385  MNT
1TRY0.02771  MNT
5TRY0.1385  MNT
10TRY0.2771  MNT
50TRY1.39  MNT
100TRY2.77  MNT
500TRY13.85  MNT
1000TRY27.71  MNT
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Today vs. 24 hours ago

Amount11:28 am today24 hours ago24h change
0.5 MNT$0.5576$0.5827
-4.34%
1 MNT$1.12$1.17
-4.34%
5 MNT$5.58$5.83
-4.34%
10 MNT$11.15$11.65
-4.34%
50 MNT$55.76$58.27
-4.34%
100 MNT$111.53$116.55
-4.34%
500 MNT$557.64$582.75
-4.34%
1000 MNT$1,115.28$1,165.5
-4.34%

Today vs. 1 month ago

Amount11:28 am today1 month ago1M change
0.5 MNT$0.5576$0.4418
+26.50%
1 MNT$1.12$0.8837
+26.50%
5 MNT$5.58$4.42
+26.50%
10 MNT$11.15$8.84
+26.50%
50 MNT$55.76$44.18
+26.50%
100 MNT$111.53$88.37
+26.50%
500 MNT$557.64$441.84
+26.50%
1000 MNT$1,115.28$883.68
+26.50%

Today vs. 1 year ago

Amount11:28 am today1 year ago1Y change
0.5 MNT$0.5576$0.004828
--
1 MNT$1.12$0.009656
--
5 MNT$5.58$0.04828
--
10 MNT$11.15$0.09656
--
50 MNT$55.76$0.4828
--
100 MNT$111.53$0.9656
--
500 MNT$557.64$4.83
--
1000 MNT$1,115.28$9.66
--

FAQ

This content is being provided to you for informational purposes only, does not constitute an offer, or solicitation of an offer nor a recommendation by Bitget to buy, sell, or hold any security, financial product, or instrument referenced in the content, and does not constitute investment advice, financial advice, trading advice, or any other sort of advice. Data presented may reflect asset prices traded on the Bitget exchange as well as other cryptocurrency exchanges and market data platforms. Bitget may charge fees for the processing of cryptocurrency transactions which may not be reflected in the conversion prices displayed. Bitget is not liable for any errors or delays in content or for any actions taken in reliance on any content.