PKR’s Real Effective Exchange Rate Index increases by 0.91 precent in January

MG News | February 27, 2020 at 05:45 PM GMT+05:00

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Feb 27, 2020 (MLN): Pak Rupee's Real Effective Exchange Rate Index (REER) increased by 0.91 percent in January 2020 to a provisional value of 96.59 from the revised value of 95.72 in December 2019.

According to data published by the State Bank of Pakistan (SBP), the REER index has decreased by 1.04 percent compared to January 2019.

However, the Nominal Effective Exchange rate Index (NEER) decreased by 0.35 percent in January to a provisional value of 62.79 from the revised value of 63.01 in December. On a yearly basis, the NEER Index has decreased by 9.49 percent.

PKR closed January at 154.4878 against the USD having appreciated by 0.23 percent compared to its value in December 2019. However, Compared to January 2019 PKR has depreciated by by 11.76 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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