PKR’s Real Effective Exchange Rate Index increases by 2.93 precent in May

MG News | July 02, 2020 at 05:15 PM GMT+05:00

0:00

Jul 02, 2020 (MLN): Pak Rupee's Real Effective Exchange Rate Index (REER) increased by 2.93 percent in May 2020 to a provisional value of 97.21 from the revised value of 94.44 in April 2020.

According to data published by the State Bank of Pakistan (SBP), the REER index has increased by 0.22 percent compared to May 2019.

Similarly the Nominal Effective Exchange rate Index (NEER) increased by 2.22 percent in May to a provisional value of 62.52 from the revised value of 61.16 in April. On a yearly basis, the NEER Index has decreased by 6.55 percent.

PKR closed May at 163.1022 against the USD showing a depreciation of 1.79 percent compared to its value in April 2020. However, Compared to May 2019 PKR has depreciated by by 9.30 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.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	163,806.22 500.44M	-0.39% -638.50
ALLSHR	99,845.79 1,977.49M	-0.42% -417.42
KSE30	50,123.85 153.24M	-0.68% -343.31
KMI30	238,530.50 71.49M	-0.36% -850.63
KMIALLSHR	65,898.10 543.80M	-0.37% -245.35
BKTi	46,380.96 92.15M	-0.49% -229.01
OGTi	31,857.40 12.33M	-1.20% -387.93

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	107,220.00	109,470.00 103,745.00	-1225.00 -1.13%
BRENT CRUDE	61.34	61.47 60.14	0.28 0.46%
RICHARDS BAY COAL MONTHLY	80.50	0.00 0.00	-1.00 -1.23%
ROTTERDAM COAL MONTHLY	93.20	93.50 93.20	0.05 0.05%
USD RBD PALM OLEIN	1,085.00	1,085.00 1,085.00	0.00 0.00%
CRUDE OIL - WTI	57.25	57.32 56.15	0.26 0.46%
SUGAR #11 WORLD	15.53	15.88 15.45	-0.27 -1.71%