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Overnight financing USDTRY seems wrong


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I have  little experience with FX trading so I may be totally wrong but ill ask anyways.

Past Wednesday went short on usdtry mini (never dealt with Turkish before) received positive adjustment of8.90 next day. Held it overnight to Friday got 18.70 (adjustment for 3 days). Held position over weekend today again 8.85. Thought abit strange that 3 days was 18.70 and not about 25. Checked a few other pairs i had and there the three days adjustments were exactly three times more. Contacted help desk and was referred to calculations and concepts above my head. 

Sooo... is this normal with usdtry? Or all try pairs are like that?

Thank you

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1 hour ago, Arkadii said:

I have  little experience with FX trading so I may be totally wrong but ill ask anyways.

Past Wednesday went short on usdtry mini (never dealt with Turkish before) received positive adjustment of8.90 next day. Held it overnight to Friday got 18.70 (adjustment for 3 days). Held position over weekend today again 8.85. Thought abit strange that 3 days was 18.70 and not about 25. Checked a few other pairs i had and there the three days adjustments were exactly three times more. Contacted help desk and was referred to calculations and concepts above my head. 

Sooo... is this normal with usdtry? Or all try pairs are like that?

Thank you

Dear @Arkadii,

Adjustments or overnight funding rates are not fixed and will not be the same. These will depend on the local rate of the market traded. We post indicative rates on the community every Monday: 

Please also refer to the 'Counting The Cost" blog post to know how many days of overnight funding you will be subjected to on a certain day, on a certain currency pair: 

All the best,

KoketsoIG

 

 

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- KoketsoIG

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