– CPIbased real effective exchange rate index, that shows Turkey's price changes according to the price of the bilateral trade countries, increased to 62.34 in December, up from 60.45 in November.
According to the Central Bank of the Republic of Turkey data, the CPIbased real effective exchange rate index fell to its historically low level in November with 60.45 and 60.63 level in October, the secondlowest level since January 1994, when the index started to be calculated.
The decrease in the real effective exchange rate in the equation shows that TL depreciated in real terms, in other words, the price of Turkish goods in terms of foreign goods decreased.
The real effective exchange rate index, of the ratio of the price level, the price level of the countries in which Turkey's foreign trade is calculated as the weighted geometric average.