REAL EFFECTIVE EXCHANGE RATE UP IN APRIL

The Consumer Price Index (CPI)based real effective exchange rate (REER) increased by 6.1% from 53.79 points to 57.05 points in April compared to the previous month, according to the Central Bank. The Domestic Producer Price Index (D-PPI)-based REER also rose from 77.60 points to 82.17 points in April month-over-month. The CPI (developing countries-based) REER increased from 43.34 points to 46.32 in April, while CPI (developed countries-based) REER increased from 61.50 points to 66.08 points compared

to March. The increase in the REER means TRY appreciation.