The speaker analyzes recent developments in the Real Effective Exchange Rate (REER) and their impact on the Turkish economy. It is stated that the CPI-based REER increased by 3.16 points to 102.17 in January, while the PPI-based index rose by 0.96 points to 99.5. The appreciation of the Turkish Lira in real terms to its most valuable level since January 2020 in 2026 and its potential effects on export competitiveness are examined.