Real effective rate of Turkish lira up 11% since May

Real effective rate of Turkish lira up 11% since May
By Akin Nazli in Belgrade December 4, 2019

The consumer price index-based real effective exchange rate (REER) of the Turkish lira rose by 11% to 77.35 in November from 69.79 in May, latest central bank data showed on December 4.

The REER rate was at 76.94 in October.

In 2018, the rate fell below 80 for the first time. It hit a record low of 62.45 in September 2018 following the currency crash in August.

The REER calculates the weighted average of domestic prices relative to those of Turkey's trading partners.

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