Pakistan’s Real Effective Exchange Rate (REER), a measure of the value of a currency against a weighted average of several foreign currencies, witnessed an increase as it clocked in at 101.70 in January 2024, up from 98.83 in December 2023, data released by the State Bank of Pakistan (SBP) on Monday showed. A REER below 100 means the country’s exports are competitive, while imports are expensive. The situation reverses when REER stands above 100 on the index. The recent increase indicates a drop in trade competitiveness. As per latest data by the SBP on Monday, the REER increased 2.9% month-on-month (MoM) in January 2024.
REER index surges to 101.7
Published on: February 20, 2024 1:47 AM