In September, the Real Value of TL Increased: TCMB Data

Increase in the Real Value of TL

The data announced by the Central Bank of the Republic of Turkey (CBRT) shows that the Real Effective Exchange Rate (REER) index based on the Consumer Price Index (CPI) reached 70.83 in September, an increase of 0.91 points compared to the previous month.

Developments Compared to Previous Months

In the previous month, this index was recorded as 69.84. The real effective exchange rate based on the Domestic Producer Price Index (D-PPI) also increased by 0.33 points to 94.03 in September. The value last month was 93.43.

Reasons for the Increase

The CBRT announced that the increase in the REER index is primarily due to the rise in CPI being greater than the nominal exchange rate increase. In the relevant statement, it was noted that the US dollar and the Euro gained an average of %1.21 and %2.16 against the Turkish lira, respectively. Additionally, it was stated that CPI increased by <%3.23 and D-PPI by <%2.52 compared to the previous month.