PKR’s Real Effective Exchange Rate Index increases by 1.91 precent in September

MG News | November 12, 2019 at 12:00 PM GMT+05:00

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Nov 12, 2019 (MLN): Pak Rupee's Real Effective Exchange Rate Index (REER) increased by 1.91 percent in September 2019 to a provisional value of 94.45 from the revised value of 92.68 in August 2019.

According to data published by the State Bank of Pakistan (SBP), the REER index has decreased by 10.9 percent compared to September 2018.

Similarly the Nominal Effective Exchange rate Index (NEER) increased by 1.64 percent in September to a provisional value of 63.08 from the revised value of 62.06 in August. On a yearly basis, the NEER Index has decreased by 18.95 percent.

PKR closed September at 156.3654 against the USD having appreciated by 0.31 percent compared to its value in August 2019. However, Compared to September 2018 PKR has depreciated by by 25.85 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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