Central Bank of the Republic of Turkiye [CBRT] announced by the CPI-based real effective exchange rate index figures for the month of March.
The real effective exchange rate fell to 83.42, down 1.8 percent from the previous month's level of 84.95. This led to the lowest level of index history.
According to the world news, the real effective exchange rate based on YI-UFE was 85.18 in March. On the other hand, the CPI-based real exchange rate was revised from 84.73 to 84.95 in February.
The nominal effective exchange rate is calculated by taking the weighted average value of the Turkish lira in the currency basket of the countries, which have a share in Turkiye's foreign trade. The increase in the real effective exchange rate indicates that TL appreciates, while the decrease indicates that TL depreciates.
ILKHA