Pakistan’s Real Effective Exchange Rate Depreciates to 98.6 in September 2024
Pakistan’s Real Effective Exchange Rate (REER) fell to 98.6 in September 2024, as per data released by the State Bank of Pakistan (SBP) on Wednesday.
The latest figures from the central bank show a decrease from the REER Index of 100.1 recorded in August 2024. This September reading marks the lowest level since December 2023, when the REER was 98.86.
It’s noteworthy that in April 2024, the REER was 104.5, the highest since September 2018.
A REER above 100 suggests a loss in trade competitiveness, with exports becoming more expensive and imports cheaper, whereas a REER below 100 indicates that the country’s exports are more competitive.
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