ANKARA: Turkey’s central bank said the real effective exchange rate of the lira, which the bank is monitoring to avoid excessive volatility, fell to 104.05 in March from a revised 105.44 in February.
The rate measures the weighted average of domestic prices relative to those of Turkey’s trading partners. The bank said it had changed the way it calculates the real effective rate from this month because of higher foreign trade volumes and a diversification in Turkey’s trading partners.
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