PKR’s Real Effective Exchange Rate Index increases by 1.07 precent in November

MG News | December 30, 2019 at 03:50 PM GMT+05:00

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Dec 30, 2019 (MLN): Pak Rupee's Real Effective Exchange Rate Index (REER) increased by 1.07 percent in November 2019 to a provisional value of 95.82 from the revised value of 94.81 in October 2019.

According to data published by the State Bank of Pakistan (SBP), the REER index has decreased by 5.59 percent compared to November 2018.

However, the Nominal Effective Exchange rate Index (NEER) decreased by 0.14 percent in November to a provisional value of 62.94 from the revised value of 63.03 in October. On a yearly basis, the NEER Index has decreased by 13.51 percent.

PKR closed November at 155.2399 against the USD having appreciated by 0.28 percent compared to its value in October 2019. However, Compared to November 2018 PKR has depreciated by by 11.64 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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