Turkey's real exchange rate 119.95 in March: central bank

ISTANBUL: Turkey's central bank said on Thursday the real effective exchange rate of the lira, which the bank is monitoring as it seeks to avoid excessive lira appreciation, stood at 119.95 in March, down from a revised 119.75 in February.

The central bank said on Wednesday it could make a "measured" cut in its one-week repo policy rate if the real effective exchange rate of the lira exceeds 120 on an index measuring the weighted average of domestic prices relative to those of trade partners.