Euro sees worst profit performance in Türkiye for 2024: TurkStat
A euro currency sign is pictured inside the headquarters of the European Central Bank, in Frankfurt am Main, western Germany, June 6, 2024. (AFP Photo)
Euro (€), the currency of the European Union, suffered its worst financial performance in Türkiye among all investment instruments, with investors incurring a real profit loss of 20.09% against Türkiye’s Consumer Price Index (CPI), reflecting global economic slowdown and political uncertainties in the union.
The Turkish Statistical Institute (TurkStat) released its “Real Profits Created by Means of Financial Investment” report for December 2024 on Jan. 8, unveiling the financial instruments that yielded the highest and lowest profits on both monthly and annual bases.
The report underscored significant fluctuations in profitable instruments over varying periods, influenced by Türkiye’s ongoing disinflation program, monetary tightening measures, and seasonal effects.
Stock yields lead December gains, while gold tops the year
In December, stock exchanges delivered the highest monthly real profit, with returns of 6.68% and 6.02% based on the Domestic Producer Price Index (D-PPI) and the CPI, respectively.
Deposit interest rates followed, offering a gain of 2.43%. Conversely, Euro and gold investments posted real losses of 0.29% and 1.46%, respectively, against consumer inflation.
For the fourth quarter, deposit interest rates emerged as the top-performing investment tool, yielding 8.97% and 4.97% in real profits based on the D-PPI and CPI, respectively.
Gold stood out as the most profitable financial instrument in Türkiye for 2024, delivering annual real profits of 20.35% based on the D-PPI and 7.13% according to the CPI.
Meanwhile, deposit interest rates provided a 6.12% return against domestic producer inflation but registered a 5.53% loss of consumer inflation.
Other instruments recorded losses against consumer inflation, with the Euro taking the hardest hit.
Its value depreciated against the U.S. dollar, impacted by Republican candidate Donald Trump’s victory in the U.S. presidential elections and ongoing political instability in the Eurozone.
However, the Euro/TRY exchange rate rose 12.14% in 2024, from 32.62 to 36.58, closing Jan. 11 at 36.24.
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