PKR’s Real Effective Exchange Rate Index decreases by 0.15 precent in December

MG News | February 12, 2020 at 03:50 PM GMT+05:00

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Feb 12, 2020 (MLN): Pak Rupee's Real Effective Exchange Rate Index (REER) decreased by 0.15 percent in December 2019 to a provisional value of 95.65 from the revised value of 95.79 in November 2019.

According to data published by the State Bank of Pakistan (SBP), the REER index has decreased by 1.87 percent compared to December 2018.

However, the Nominal Effective Exchange rate Index (NEER) increased by 0.11 percent in December to a provisional value of 63.01 from the revised value of 62.94 in November. On a yearly basis, the NEER Index has decreased by 10.06 percent.

PKR closed December at 154.8476 against the USD having appreciated by 0.25 percent compared to its value in November 2019. However, Compared to December 2018 PKR has depreciated by by 11.51 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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