PKR’s Real Effective Exchange Rate Index Declines by 2.68 Percent in October

MG News | December 03, 2018 at 02:22 PM GMT+05:00

0:00

Pak Rupee’s Real Effective Exchange Rate index (REER) decreased by 2.68 percent in October, falling to a value of 108.1450 from 111.1276 in September.

According to data published by the State Bank of Pakistan, the REER index has declined by 12.48 percent compared to October 2017.

Similarly the Nominal Effective Exchange rate Index (NEER) fell by 4.71percent in October to 74.9170 from 78.6198 in September. On a yearly basis, the NEER has fallen by 16.86%

The State Bank had devalued the Rupee on Oct 09, 2018 by 7.54 percent. Since then PKR has further declined by 4.25 percent.

Since the round of ‘Market Driven adjustments’ began in Dec 2017, PKR has lost 31.75 percent of its value.

Reer is a measure of the value of a currency against a weighted average of several foreign currencies, a decrease in REER implies that exports become cheaper and imports become more expensive; therefore, a decrease indicates a gain in trade competitiveness.

Copyright Mettis Link news

Related News

Name	Price/Vol	%Chg/NChg
KSE100	189,166.83 407.93M	0.79% 1478.66
ALLSHR	112,809.65 875.49M	0.16% 181.96
KSE30	58,207.71 147.51M	1.27% 729.47
KMI30	269,497.03 190.79M	1.15% 3053.85
KMIALLSHR	72,828.34 555.24M	0.32% 235.69
BKTi	53,520.37 33.89M	-0.06% -32.37
OGTi	38,886.75 10.61M	-1.00% -393.22

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	89,340.00	91,290.00 88,550.00	-105.00 -0.12%
BRENT CRUDE	66.29	66.30 64.29	2.23 3.48%
RICHARDS BAY COAL MONTHLY	86.75	0.00 0.00	-3.00 -3.34%
ROTTERDAM COAL MONTHLY	98.50	0.00 0.00	-0.30 -0.30%
USD RBD PALM OLEIN	1,027.50	1,027.50 1,027.50	0.00 0.00%
CRUDE OIL - WTI	61.28	61.36 59.52	1.92 3.23%
SUGAR #11 WORLD	14.73	14.98 14.72	-0.23 -1.54%