PKR’s Real Effective Exchange Rate Index decreases by 1.48 precent in April

MG News | June 08, 2020 at 06:05 PM GMT+05:00

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Jun 08, 2020 (MLN): Pak Rupee's Real Effective Exchange Rate Index (REER) decreased by 1.48 percent in April 2020 to a provisional value of 95.71 from the revised value of 97.15 in March 2020.

According to data published by the State Bank of Pakistan (SBP), the REER index has decreased by 2.88 percent compared to April 2019.

Similarly the Nominal Effective Exchange rate Index (NEER) decreased by 2.11 percent in April to a provisional value of 61.16 from the revised value of 62.48 in March. On a yearly basis, the NEER Index has decreased by 10.43 percent.

PKR closed April at 160.175 against the USD having appreciated by 3.92 percent compared to its value in March 2020. However, Compared to April 2019 PKR has depreciated by by 13.28 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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