Turkey Real Effective Exchange Rate (CPI-Based)
The value of the Turkish lira against its trading partners' currencies adjusted for price differences: the central bank's CPI-based real effective exchange rate index (2025=100), a chart since 2005 and the last 24 months.
By central bank data, the CPI-based real effective exchange rate index was 105.45 in September 2026 (2025=100), against 105.00 the month before and 98.54 a year earlier. A rise means the Turkish lira gained value in real terms, a fall that it lost value.
Real effective exchange rate
105.45
September 2026
Previous month
105.00
August 2026
A year earlier
98.54
September 2025
Read from EVDS: Oct 27, 2026, 16:00
Real effective exchange rate chart
September 2026
- Real effective exchange rate105.45
Real effective exchange rate: latest 105.45 (September 2026). Between January 2005 and September 2026, the highest was 177.78 (December 2007) and the lowest 69.99 (December 2021).
Last 24 months
| Month | Real effective exchange rate | Annual change |
|---|---|---|
| September 2026 | 105.45 | 7.01% |
| August 2026 | 105.00 | 7.92% |
| July 2026 | 106.18 | 10.03% |
| June 2026 | 105.51 | 8.30% |
| May 2026 | 105.89 | 6.80% |
| April 2026 | 106.09 | 5.51% |
| March 2026 | 104.43 | 1.83% |
| February 2026 | 102.75 | -1.69% |
| January 2026 | 102.07 | -2.55% |
| December 2025 | 98.93 | -1.79% |
| November 2025 | 99.83 | -0.55% |
| October 2025 | 99.97 | 2.96% |
| September 2025 | 98.54 | 4.73% |
| August 2025 | 97.29 | 4.22% |
| July 2025 | 96.50 | 2.25% |
| June 2025 | 97.42 | 4.74% |
| May 2025 | 99.15 | 7.35% |
| April 2025 | 100.55 | 11.77% |
| March 2025 | 102.55 | 17.58% |
| February 2025 | 104.52 | 19.23% |
| January 2025 | 104.74 | 22.45% |
| December 2024 | 100.73 | 21.63% |
| November 2024 | 100.38 | 21.33% |
| October 2024 | 97.10 | 15.88% |
Method and definitions
- The real effective exchange rate is the weighted average value of the Turkish lira against the currencies of Türkiye's main trading partners, adjusted for relative prices; the weights come from bilateral trade flows.
- The CPI-based index measures price differences with consumer prices. Base 2025=100: above 100 means the lira is stronger in real terms than its 2025 average.
- The central bank publishes the index monthly; a new month usually follows at the start of the next month.
Source: Central Bank of the Republic of Türkiye, CPI-based real effective exchange rate; via the Electronic Data Delivery System (EVDS) of the Central Bank of the Republic of Türkiye.
Related pages
Frequently asked questions
What is Turkey's real effective exchange rate?
The CPI-based real effective exchange rate index was 105.45 in September 2026 (2025=100); the average since January 2005 is 129.41 (central bank).
What does the real effective exchange rate show?
The value of the lira against its trading partners' currencies after price differences. When the index rises, Turkish goods become dearer relative to foreign goods, when it falls cheaper; so it is watched for trade competitiveness.
What does a reading above 100 mean?
The index is relative to its 2025 average: above 100 means the lira is stronger in real terms than in 2025 on average, below 100 weaker.