14 October 2026
The Central Bank of the Republic of Turkiye (CBRT) sets the country's policy rate, which is the one-week repo auction rate.
The rate stands at 37.00 per cent.
It was brought down to 37.00 per cent from 38.00 per cent on 23 January 2026.
The step before that had taken the rate from 39.50 per cent to 38.00 per cent on 12 December 2025.
The Monetary Policy Committee left the rate unchanged at its meeting on 10 September 2026, with the overnight lending rate at 40 per cent and the overnight borrowing rate at 35.5 per cent.
The Committee's next scheduled meeting is on 22 October 2026.
Policy rate:
37.00 per cent
Previous level:
38.00 per cent
In force since:
23 January 2026
Why it matters for exams: Policy rates of large emerging economies are set beside the RBI repo rate in economy questions.
Kerala PSCUPSC
In plain words
CBRT Central Bank of the Republic of Turkiye — Turkiye's central bank, whose Monetary Policy Committee fixes the policy rate.
Repo Repurchase agreement — A short-term loan against securities; the one-week repo auction rate is Turkiye's policy rate.
14 October 2026
The Central Bank of the Republic of Turkiye's inflation data page records the consumer price index change for September 2026.
The annual change in the consumer price index was 29.73 per cent.
The monthly change was 1.84 per cent.
The figures are compiled and released by the Turkish Statistical Institute (TurkStat), which published them on 5 October 2026.
Annual inflation had been 31.51 per cent in August 2026, so the September reading was the first below 30 per cent since November 2021.
The Central Bank's Monetary Policy Committee states that it aims at a 5 per cent inflation target in the medium term.
Annual CPI change, September 2026:
29.73 per cent
Monthly CPI change:
1.84 per cent
Medium-term target:
5 per cent
Why it matters for exams: Inflation readings of major economies are standard comparison material in economy papers.
Kerala PSCUPSC
In plain words
TurkStat Turkish Statistical Institute — Turkiye's national statistical office, which compiles the consumer price index.
14 October 2026
Trade Minister Omer Bolat announced Turkiye's foreign trade figures in Istanbul on 3 October 2026.
Exports in the first nine months of 2026 were $211 billion, a record for the period and 5.2 per cent higher than a year earlier.
Imports over the same nine months were $282 billion, up 5.4 per cent.
The nine-month foreign trade deficit was $71.03 billion, 5.8 per cent wider than a year earlier.
September 2026 exports were $25.98 billion, the highest figure recorded for any September, up 15.4 per cent.
September imports were $31.21 billion and the monthly trade deficit was $5.23 billion, 24.8 per cent narrower than a year earlier.
Exports, January-September 2026:
$211 billion
Imports, January-September 2026:
$282 billion
Nine-month trade deficit:
$71.03 billion
September 2026 exports:
$25.98 billion
Why it matters for exams: Trade balances of major economies recur in questions on external sector comparisons.
Kerala PSCUPSC
In plain words
Trade deficit Excess of imports over exports — The gap when a country buys more goods from abroad than it sells.
14 October 2026
Turkiye will host the 13th Summit of the Organization of Turkic States (OTS) in Ankara on 29-30 October 2026.
Foreign Minister Hakan Fidan received the Secretary General of the Organization of Turkic States, Kubanychbek Omuraliev, in Ankara on 8 September 2026.
Preparations for the 13th Summit were taken up at that meeting.
Turkiye is a member of the Organization of Turkic States.
Summit:
13th OTS Summit
Venue:
Ankara
Dates:
29-30 October 2026
OTS Secretary General:
Kubanychbek Omuraliev
Why it matters for exams: Regional groupings that India is not part of, and their summits, appear in international relations questions.
Kerala PSCUPSC
In plain words
OTS Organization of Turkic States — An intergovernmental grouping of Turkic-speaking states of which Turkiye is a member.
Background
The currency of Turkiye is the Turkish lira. Turkish lira banknotes are grouped into emission groups by the Central Bank of the Republic of Turkiye. The Eighth Emission Group was put into circulation on 1 January 2005, printed for the decision to drop six zeros from the Turkish currency, and had 6 denominations of 1, 5, 10, 20, 50 and 100 New Turkish liras. The Council of Ministers was then authorised to remove the prefix "New" from the "New Turkish Lira" and the "New Kurus"; the measure was enacted upon promulgation in the Official Gazette of 5 May 2007 and took effect on 1 January 2009. The Ninth Emission Group banknotes were issued in 6 denominations of 5, 10, 20, 50, 100 and 200 Turkish liras. The Central Bank's own Banknote Printing Plant began producing banknotes in 1958.
Currency:
Turkish lira
Eighth Emission Group in circulation from:
1 January 2005
Zeros dropped from the currency:
six
Prefix "New" removed with effect from:
1 January 2009
Ninth Emission Group denominations:
5, 10, 20, 50, 100 and 200 Turkish liras
Why it matters for exams: The name of a country's currency and the central bank that issues it are standard one-mark questions, and Turkey adds the extra hook of a currency that dropped six zeros and briefly carried the prefix New.
Kerala PSCUPSCBank
In plain words
Emission group — A numbered family of banknotes issued by the Turkish central bank, each group replacing the design generation before it.
Kurus — The smaller currency unit named alongside the lira, which carried the prefix "New" until that prefix was removed with effect from 1 January 2009.
Denomination — The face value printed on a banknote, such as 200 Turkish liras.
Background
Turkiye is a member of the North Atlantic Treaty Organization. NATO was created by 12 countries from Europe and North America on 4 April 1949, when the North Atlantic Treaty was signed in Washington; Turkiye was not one of those founding members. Three years after the signing of the Washington Treaty, on 18 February 1952, Greece and Turkiye joined NATO. Article 10 of the North Atlantic Treaty sets out how countries can join the Alliance, membership being open to any European state in a position to further the principles of the Treaty and to contribute to the security of the North Atlantic area. As of 2026, NATO has 32 member countries.
Date Turkiye joined NATO:
18 February 1952
Joined on the same day as:
Greece
North Atlantic Treaty signed:
4 April 1949
Founding members:
12
Member countries (as of 2026):
32
Accession article of the Treaty:
Article 10
Why it matters for exams: Turkiye is the standard example of a NATO member that is not an EU member, so examiners use it to test whether a candidate can tell a security alliance apart from an economic and political union.
Kerala PSCUPSCSSC
In plain words
Washington Treaty North Atlantic Treaty — The founding treaty of NATO, signed on 4 April 1949 by 12 countries of Europe and North America.
Article 10 — The open door clause of the North Atlantic Treaty, which sets out how a European state can be invited to join the Alliance.
Candidate country — A state whose application to join the European Union has been accepted for negotiation but which is not yet a member; Turkiye applied in 1987, was declared a candidate at Helsinki in December 1999 and opened accession negotiations in 2005.
Background
The Historic Areas of Istanbul, in Turkiye, were inscribed on the UNESCO World Heritage List in 1985 under criteria (i), (ii), (iii) and (iv), with a minor boundary modification in 2017. The property covers 765.5 ha. It is strategically located on the Bosphorus peninsula between the Balkans and Anatolia, the Black Sea and the Mediterranean, on a peninsula surrounded by the Golden Horn, or Halic, a natural harbour on the north, the Bosphorus on the east and the Marmara Sea on the south. Its architectural masterpieces reflect the meeting of Europe and Asia over many centuries. The four areas of the property are the Archaeological Park at the tip of the historic peninsula, the Suleymaniye quarter, the Zeyrek area and the area along both sides of the Theodosian land walls. Among the monuments are the Hagia Sophia, the 15th century Topkapi Palace and the Suleymaniye Mosque complex designed by architect Sinan.
Year of inscription:
1985
Criteria:
(i), (ii), (iii), (iv)
Minor boundary modification:
2017
Area of the property:
765.5 ha
Number of areas in the property:
four
Waters bordering the peninsula:
Golden Horn (north), Bosphorus (east), Marmara Sea (south)
Why it matters for exams: This single property carries the geography of the Turkish straits and the two continents together with the country's best known monuments, so one item answers both a heritage question and a map question.
Kerala PSCUPSC
In plain words
Golden Horn Halic — The natural harbour on the north of Istanbul's historic peninsula, named on the World Heritage listing as the Golden Horn or Halic.
Theodosian land walls — The landward fortifications of the old city; the land on both sides of them forms one of the four areas of the property.
Minor boundary modification — A small change to the mapped limits of a World Heritage property, approved without a fresh inscription; this property had one in 2017.
Background
The Consulate General of India in Istanbul records historical connections between India and Turkiye, noting that the Sufi Philosophy of Mevlana Jelaluddin Rumi found resonance in the Indian sub-continent with its own traditions of Sufism and the Bhakti movement.
A Bilateral Trade Agreement between India and Turkiye was signed in 1973, followed by an Agreement on setting up an India-Turkiye Joint Commission on Economic and Technical Cooperation (JCETC) in 1983; under that Agreement JCETC meetings are held alternately in India and Turkiye, co-chaired by the trade ministers of the two countries.
Foreign Office Consultations at Secretary level were institutionalized through a Protocol signed in April 2000.
Bilateral trade grew by 28.99% during FY 2022-23, crossing USD 13.80 billion, making Turkiye India's 26th largest trading partner; trade in FY 2023-24 stood at USD 10.43 billion, making Turkiye India's 28th largest trading partner.
There are currently around 3000 estimated Indian nationals in Turkiye, around 1850 of them in Istanbul and adjoining provinces, and around 350 Indian students.
Bilateral Trade Agreement signed:
1973
JCETC agreement signed:
1983
Protocol on Foreign Office Consultations:
April 2000
Bilateral trade in FY 2022-23:
crossing USD 13.80 billion, a growth of 28.99%
Bilateral trade in FY 2023-24:
USD 10.43 billion
Estimated Indian nationals in Turkiye:
around 3000
Indian students in Turkiye:
around 350
Why it matters for exams: Country Focus questions on a foreign state almost always include its relationship with India, and the dated instruments of the India-Turkiye relationship are the kind of named agreement an examiner can test in one line.
Kerala PSCUPSC
In plain words
JCETC Joint Commission on Economic and Technical Cooperation — The India-Turkiye joint body set up by an agreement of 1983 to carry the economic and technical side of the relationship; its meetings are held alternately in the two countries and co-chaired by their trade ministers.
Foreign Office Consultations — Regular talks between the foreign ministries of two countries, institutionalized between India and Turkiye by a Protocol of April 2000.
Background
The Montreux Convention has been implemented since 1936 and governs passage through the Turkish Straits.
Merchant vessels have freedom of passage through the Straits.
Aircraft carriers cannot pass through the Turkish Straits, whether or not they belong to a Black Sea littoral state.
Only submarines of littoral states may pass, and only to reach their Black Sea base for the first time after construction or purchase, or for repairs in dockyards outside the Black Sea.
Foreign naval forces in transit are limited to 9 vessels with an aggregate tonnage of 15,000 tons.
Non-littoral states may keep warships of up to 45,000 tons in total in the Black Sea, with no more than 30,000 tons from any one state, and such warships may stay no more than 21 days.
Warship passage must be notified to Turkiye through diplomatic channels 8 days in advance for littoral states and 15 days in advance for non-littoral states.
The Turkish Straits Vessel Traffic Services Centre manages merchant vessel passages under the 1998 Maritime Traffic Regulations.
In force since:
1936
Warships in transit:
9 vessels, 15,000 tons
Non-littoral tonnage in the Black Sea:
45,000 tons, up to 30,000 tons from one state
Maximum stay:
21 days
Why it matters for exams: The Straits regime is a standing question in geography and international relations, and is raised whenever the Black Sea is in the news.
Kerala PSCUPSC
In plain words
Turkish Straits The Bosphorus and the Dardanelles with the Sea of Marmara — The waterway linking the Black Sea to the Mediterranean through Turkiye.
Littoral state A state with a coast on a given sea — Under the Convention, Black Sea littoral states enjoy wider passage rights than others.
Background
Gobekli Tepe is on the UNESCO World Heritage List as a property of Turkiye.
It stands in the Germus mountains of south-eastern Anatolia.
It was inscribed in 2018 under criteria (i), (ii) and (iv).
Its monumental round-oval and rectangular megalithic structures were built by hunter-gatherers in the Pre-Pottery Neolithic period.
The site's T-shaped limestone pillars reach 5.50 metres in height and carry reliefs of wild animals; some show abstract human forms with belts and loincloths.
The inscribed property covers 126 ha with a buffer zone of 461 ha.
Location:
Germus mountains, south-eastern Anatolia
Inscribed:
2018
Pillar height:
up to 5.50 metres
Property area:
126 ha
Why it matters for exams: Turkiye's World Heritage properties are standard geography and culture material, and Gobekli Tepe is the one most often cited for prehistory.
Kerala PSCUPSC
In plain words
Anatolia The Asian peninsula forming most of Turkiye — Also called Asia Minor; it lies east of the Turkish Straits.
Background
Goreme National Park and the Rock Sites of Cappadocia are on the UNESCO World Heritage List as a property of Turkiye.
The site lies on a volcanic plateau in central Anatolia, where erosion has shaped valleys, ridges and 'fairy chimney' rock pillars.
It was inscribed in 1985 under criteria (i), (iii), (v) and (vii), which makes it a mixed cultural and natural property.
The Goreme valley holds rock-hewn churches and monasteries with Byzantine painting of the post-iconoclastic period.
Troglodyte villages and underground cities such as Kaymakli and Derinkuyu served as refuges.
Monastic communities began settling in rock-cut cells from about the fourth century.
Location:
Central Anatolia
Inscribed:
1985
Criteria:
(i), (iii), (v), (vii)
Underground cities:
Kaymakli and Derinkuyu
Why it matters for exams: Cappadocia is the Turkish site most often asked about in geography and tourism questions.
Kerala PSCUPSC
In plain words
Fairy chimney Eroded rock pillar — A tapering pillar left standing when softer volcanic rock around it erodes away.
Background
Turkiye is a founding member of the Organisation for Economic Co-operation and Development (OECD).
The OECD was established on 30 September 1961.
The Organisation has 38 members.
Its headquarters is in Paris, where its Council meets.
Membership of the OECD is separate from membership of the European Union.
Turkiye's status:
Founding member
Established:
30 September 1961
Members:
38
Headquarters:
Paris
Why it matters for exams: Which bodies Turkiye belongs to, and which it does not, is a recurring country-focus question.
Kerala PSCUPSC
In plain words
OECD Organisation for Economic Co-operation and Development — An inter-governmental economic organisation; India is a partner but not a member.