The Turkish lira is at its highest level in 11 months against trading partner currencies by Investing.com


© Reuters.

Investing.com – Real Effective Exchange Rate, which shows the average value of the Turkish lira against the major currencies it trades, fell to a historic low of 60.52 in November due to the record depreciation in the Turkish lira. The Turkish lira, which rose from the bottom with the policy and name changes in November, gained almost 20% value against foreign exchange and the Real Effective Exchange Rate has recovered in recent months. According to the figures announced by the CBRT today, the Real Effective Exchange Rate rose from 66.08 to 69.69 in February.

The Real Effective Exchange Rate, which decreased from 72.95 in March 2020 with the increase in volatility in foreign exchange, reached 69.69 in February 2021, reaching the highest level in the last 11 months.

Author: Necdet Erginsoy

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