According to the data announced by the CBRT, the real value of the Turkish Lira decreased by 0.44 percent in May. Real Effective Exchange Rate Index reached 105.55 in May.
The statement made by the CBRT is as follows:
“CPI-based REK index decreased by 0.44 points compared to the previous month in May and reached 105.55. Domestic Producer Price Index (D-PPI) based REK index increased by 0.29 points compared to the previous month in May and rose to 101.41.
When the components affecting the CPI-based REK index are examined, the US dollar gained an average of 1.49 percent in value against the Turkish lira compared to the previous month, while the Euro gained an average of 1.59 percent. While CPI increased by 1.71 percent compared to the previous month, D-PPI increased by 2.75 percent.
As a result, while the change in Türkiye’s CPI contributed to the increase of the index; “The change in the World CPI Basket and the Nominal Exchange Rate Basket had a decreasing effect on the index.”
