PKR’s Real Effective Exchange Rate Index increases by 0.81 precent in July

MG News | September 02, 2019 at 05:10 PM GMT+05:00

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Sep 02, 2019 (MLN): Pak Rupee's Real Effective Exchange Rate Index (REER) increased by 0.81 percent in July 2019 to a provisional value of 91.0100 from the revised value of 90.2800 in June 2019.

According to data published by the State Bank of Pakistan (SBP), the REER index has decreased by 13.06 percent compared to July 2018.

However, the Nominal Effective Exchange rate Index (NEER) decreased by 1.46 percent in July to a provisional value of 62.0000 from the revised value of 62.9200 in June. On a yearly basis, the NEER Index has decreased by 18.62 percent.

PKR closed July at 159.5982 against the USD having appreciated by 0.28 percent compared to its value in June 2019. However, Compared to July 2018 PKR has depreciated by by 28.51 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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