PKR's REER index increases to 102.92 in Nov

News Image

By MG News | December 17, 2024 at 03:52 PM GMT+05:00

0:00

December 17, 2024 (MLN): Pak Rupee's Real Effective Exchange Rate Index (REER) increased by 2.04% in November 2024 to a provisional value of 102.92 from the revised value of 100.78 in October 2024.

According to data published by the State Bank of Pakistan (SBP), the REER index has increased by 4.72% compared to November 2023.

Similarly, the Nominal Effective Exchange Rate Index (NEER) increased by 1.61% in November to a provisional value of 38.89 from the revised value of 38.27 in October. On a yearly basis, the NEER Index has increased by 2.36%.

PKR closed November at 277.67 against the USD showing an appreciation of 0.06% compared to its value in October 2024. While compared to November 2023 PKR has appreciated by 2.7%.

REER is an index of the price of a basket of goods in one country relative to the price of the same basket in that country's major trading partners.

An increase in REER implies that exports become more expensive and imports become cheaper; therefore, this increase indicates a decline in trade competitiveness.

The price of each trading partner's basket is weighted by its share in imports, exports, or total foreign trade.

A REER index of 100 should not be misinterpreted as denoting the equilibrium value of the currency. 100 merely represents the value of the currency at a chosen point in time (in this case the average value of the currency in 2010).

Therefore, the movement of the REER away from 100 simply reflects changes relative to its average value in 2010 and is unrelated to its equilibrium value.

While NEER is an index of the bilateral nominal exchange rates of one country relative to its major trading partners or selected basket of currencies.

The bilateral nominal exchange rate index with each trading partner is weighted by that country’s share in imports, exports, or total foreign trade.

REER is an index of the price of a basket of goods in one country relative to the price of the same basket in that country's major trading partners.

An increase in REER implies that exports become more expensive and imports become cheaper; therefore, this increase indicates a decline in trade competitiveness.

The price of each trading partner's basket is weighted by its share in imports, exports, or total foreign trade.

A REER index of 100 should not be misinterpreted as denoting the equilibrium value of the currency. 100 merely represents the value of the currency at a chosen point in time (in this case the average value of the currency in 2010).

Therefore, the movement of the REER away from 100 simply reflects changes relative to its average value in 2010 and is unrelated to its equilibrium value.

While NEER is an index of the bilateral nominal exchange rates of one country relative to its major trading partners or selected basket of currencies.

The bilateral nominal exchange rate index with each trading partner is weighted by that country’s share in imports, exports, or total foreign trade.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 133,181.57
94.22M
-0.14%
-188.58
ALLSHR 82,996.28
336.79M
-0.10%
-84.87
KSE30 40,592.79
30.76M
-0.28%
-112.51
KMI30 191,991.09
39.61M
-0.31%
-589.58
KMIALLSHR 55,777.47
193.83M
-0.10%
-58.25
BKTi 36,202.42
5.18M
-0.32%
-114.75
OGTi 28,478.57
2.80M
-0.23%
-64.39
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 108,350.00 108,880.00
107,680.00
-105.00
-0.10%
BRENT CRUDE 69.40 69.50
69.03
-0.18
-0.26%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
2.90
3.07%
ROTTERDAM COAL MONTHLY 106.00 106.75
106.00
0.25
0.24%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 67.71 67.97
67.40
-0.22
-0.32%
SUGAR #11 WORLD 16.25 16.46
16.07
-0.13
-0.79%

Chart of the Day


Latest News
July 08, 2025 at 10:42 AM GMT+05:00

Pakistan moves to regulate crypto with PVARA approval


July 08, 2025 at 09:41 AM GMT+05:00

DFML assembles over 300 EVs for delivery


July 08, 2025 at 09:31 AM GMT+05:00

NBP issues foreign exchange rates



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg