SAR/TRY (Central Bank of the Republic of Turkey)

The indicative exchange rates of the Turkish lira against foreign currencies are determined by the Central Bank of the Republic of T?rkiye (CBRT) on a daily basis during business days under a floating exchange rate regime. The rate for the U.S. Dollar is calculated as the average of six hourly snapshots (taken between 10:00 and 15:00) of buying and selling rates quoted by banks in the interbank market. Rates for other currencies are derived via average cross-rates collected during the same timeframe. Published at 15:30 local time and subsequently released in the Official Gazette, these rates serve as the official benchmark for the Central Bank’s accounting and cashier transactions on the following business day, while remaining non-binding and purely indicative for commercial transactions between private parties.