Cpı Based Real Effective Exchange Rate Falls To 102.62

Turkey's consumer prices index (CPI) based real effective exchange rate fell to 102.62 level in April, down from 104.01 in March, according to the Real Effective Exchange Rate Indices data released by the Central Bank on Tuesday.

The CPI based real effective exchange rate has been falling since January when it was at 108.33 level.

Domestic producer prices index (D-PPI) based real effective exchange rate fell to 100.71 level in April, down from 102.38 level in the previous month and from 106.60 in January.

Nominal effective exchange rate is the weighted average value of the Turkish lira relative to the basket of the countries' currencies that have a significant share in Turkey's foreign trade. Weights are determined using bilateral trade flows.

As for real effective exchange rate, it is obtained by purifying relative price effects in nominal effective exchange rate.

Central Bank increased the number of countries covered in the indices from 36 to 45 for CPI-based index and from 31 to 38 for PPI-based index. - Istanbul