The Turkish Statistical Institute (TUIK) has released the latest data on the real returns of financial investment instruments for March 2025. According to the report, when adjusted for the Consumer Price Index (TÜFE), the euro delivered the highest real return in March at 3.83%.
Euro Ranks First in Monthly Performance
When adjusted for the Domestic Producer Price Index (YI-ÜFE), the euro yielded a real return of 4.42%, topping the list. In the same period, the following investment tools provided positive real returns:
- Gold bullion: 2.90% (YI-ÜFE) / 2.31% (TÜFE)
- BIST 100 Index: 1.66% (YI-ÜFE) / 1.08% (TÜFE)
- Deposit interest (gross): 1.27% (YI-ÜFE) / 0.69% (TÜFE)
- US Dollar: 0.64% (YI-ÜFE) / 0.07% (TÜFE)
However, Government Domestic Debt Securities (DIBS) recorded negative real returns, with a loss of 1.90% (YI-ÜFE) and 2.46% (TÜFE) in March.
Gold Leads Over the First Quarter
Gold bullion emerged as the most profitable investment over the first quarter of 2025. The real return stood at:
- 10.90% when adjusted for YI-ÜFE
- 8.05% when adjusted for TÜFE
In contrast, the BIST 100 Index was the worst-performing investment tool over the same period, with:
- A loss of 4.95% (YI-ÜFE)
- A loss of 7.40% (TÜFE)
Gold Also Outperforms Annually
On a yearly basis, gold continued to shine. The annual real return of gold bullion was:
- 22.20% when adjusted for YI-ÜFE
- 9.28% when adjusted for TÜFE
Other key annual results include:
- Deposit interest (gross): 12.70% (YI-ÜFE) / 0.78% (TÜFE)
- DIBS: 6.18% (YI-ÜFE) / -5.05% (TÜFE)
- US Dollar: -6.23% (YI-ÜFE) / -16.14% (TÜFE)
- Euro: -6.79% (YI-ÜFE) / -16.65% (TÜFE)
- BIST 100 Index: -8.70% (YI-ÜFE) / -18.35% (TÜFE)
Conclusion
The data from Türkiye’s official statistics agency, TUIK, shows that while the euro took the lead in monthly returns for March 2025, gold has been the top performer both quarterly and annually. On the other hand, equities and foreign currencies underperformed, especially when adjusted for inflation.
Source: CNBC-e/ Prepared by: İlayda Gök