Turkish Lira continues to lose value

In April, the real value of the Turkish Lira fell to its lowest level in the last six months. The Real Effective Exchange Rate index decreased by 1.55 points compared to the previous month, reaching 72.12.

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In April, the Consumer Price Index (CPI)-based Real Effective Exchange Rate (REER) index fell to 72.12, a decrease of 1.55 points compared to the previous month, according to data from the Central Bank of the Republic of Türkiye (TCMB). This decline caused the real value of the TL to drop to its lowest level in the last six months.

The Domestic Producer Price Index (D-PPI)-based REER index also decreased by 2.34 points in April, falling to 93.22. The primary reason for this decline was that the nominal exchange rate increase was more pronounced despite the rise in the CPI. The appreciation of the US Dollar and the Euro by 2.84 percent and 6.96 percent, respectively, accelerated the real value loss of the TL. During the same period, the CPI increased by 3 percent, while the D-PPI rose by 2.76 percent.

News Source: 12punto

Turkish Lira continues to lose value

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