PKR’s Real Effective Exchange Rate Index decreases by 0.13 precent in April

MG News | June 03, 2019 at 05:00 PM GMT+05:00

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Jun 03, 2019 (MLN): Pak Rupee's Real Effective Exchange Rate Index (REER) decreased by 0.13 percent in April 2019 to a provisional value of 104.2652 from the revised value of 104.4045 in March 2019.

According to data published by the State Bank of Pakistan (SBP), the REER index has decreased by 6.15 percent compared to April 2018.

Similarly the Nominal Effective Exchange rate Index (NEER) decreased by 0.99 percent in April to a provisional value of 69.3375 from the revised value of 70.0302 in March. On a yearly basis, the NEER Index has decreased by 13.4 percent.

PKR closed April at 141.3934 against the USD showing a depreciation of 0.44 percent compared to its value in March 2019. However, Compared to April 2018 PKR has depreciated by by 22.29 percent.

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 have become cheaper while imports become more expensive therefore, this decrease indicates an increase in trade competitiveness.

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