PKR’s Real Effective Exchange Rate Index increases by 0.37 precent in October

MG News | November 29, 2019 at 06:00 PM GMT+05:00

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Nov 29, 2019 (MLN): Pak Rupee's Real Effective Exchange Rate Index (REER) increased by 0.37 percent in October 2019 to a provisional value of 94.7100 from the revised value of 94.3600 in September 2019.

According to data published by the State Bank of Pakistan (SBP), the REER index has decreased by 8.17 percent compared to October 2018.

However, the Nominal Effective Exchange rate Index (NEER) decreased by 0.08 percent in October to a provisional value of 63.0300 from the revised value of 63.0800 in September. On a yearly basis, the NEER Index has decreased by 15.01 percent.

PKR closed October at 155.6737 against the USD having appreciated by 0.44 percent compared to its value in September 2019. However, Compared to October 2018 PKR has depreciated by by 17.5 percent.

REER is a measure of the value of a currency against a weighted average of several foreign currencies, an increase in REER implies that exports become more expensive and imports become cheaper therefore, this increase indicates a decline in trade competitiveness.

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