Pak Rupee’s Real Effective Exchange Rate Index increases by 3.21% in August
By MG News | October 02, 2018 at 06:15 PM GMT+05:00
According to data released by the State Bank of Pakistan, PKR’s Real Effective Exchange Rate (REER) Index increased by 3.21 percent in August, climbing to 111.85 from 108.67 in July.
However, the index is down 8.50 percent compared to the corresponding period from last year with the index value being 122.23 in August 2017. This was largely down the SBP allowing the Rupee to depreciate by 17.88% between December 2017 and July 2018.
Similarly, the Nominal Exchange Rate (NEER) Index of PKR has also increased in August by 2.12 percent over its value in July 2018 and is down 12.40 percent compared to corresponding period from last year.
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