What does dollar-based mean?
Tracking a stock on a dollar basis means measuring its price in US dollars rather than Turkish lira. The same stock, on the same day, can tell two different stories depending on the unit you use.
The short definition
A dollar-based price is the stock's lira price divided by the same day's exchange rate. The result is how many dollars it takes to buy the share. If the lira price rises while the exchange rate rises too, the dollar-based price can stand still or even fall.
Why the two units disagree
A lira price responds to two things at once: the value of the company and the value of the lira. When the lira weakens, the same company is worth more lira — that is not an increase in value, it is a shrinking unit of measure. The dollar price removes the second effect and leaves the company's own performance.
Is this the same as a currency-adjusted price?
Yes. In Turkish the terms dolar bazlı and dolar cinsinden both describe the same calculation: the lira price divided by the exchange rate. There is no difference in the arithmetic, only in register.
A live BIST 100 example
At the 27 Oct 2026 close the BIST 100 index stood at 11,151 points in lira and $224.00 in dollars. Over the past year the index moved +2.7% in lira and -13.3% in dollars. The entire gap comes from the USDTRY rate.
The figures in this section come from live data.
BIST 100 index chart in dollarsHow do you work out a dollar-based price?
Divide the stock's end-of-day lira close by the same day's USDTRY rate. A stock at 100 lira with the rate at 40 works out to $2.50.
Why does looking in dollars matter?
Because the lira is not a stable unit of measure, a lira return can overstate the change in purchasing power. The dollar return strips that effect out.
The example figures in these guides update automatically with the end-of-day close. Not investment advice.