The Turkish Lira real exchange rate index increased by 2.9 percent in February compared to the previous month.
According to the data released by the Central Bank of the Republic of Turkey (CBRT), the real effective exchange rate index was determined as 58.73 points on the basis of CPI.
CPI-based real exchange rate index was revised to 57.07 points from 56.99 points in January.
D-PPI based real effective exchange rate index was 88.03 points in February. The index of the previous month was revised from 88.68 points to 87.82 points.
The real effective index based on developing countries came from 45.91 points to 47.22 points, and the real effective index based on developed countries came from 66.06 points to 68.3 points.
The nominal effective exchange rate is calculated as the weighted average value of the Turkish Lira (TL) according to the basket consisting of the currencies of the countries that have a significant share in Turkey’s foreign trade.
The increase in the real effective exchange rate indicates that the Turkish Lira has appreciated, in other words, the price of Turkish goods in terms of foreign goods has increased.