Pakistan’s Real Effective Exchange Rate Appreciates to 98.6 in October 2023

Pakistan’s Real Effective Exchange Rate (REER) Index appreciated to 98.6 in October 2023 as compared to 91.7 in September 2023, according to data released by the State Bank of Pakistan (SBP) on Thursday. The month-on-month increase comes to 7.51 percent, while the increase in the current fiscal year (FY24) stands at 12.42 percent. The REER Index has risen by 1.18 percent in the current year. A REER above 100 indicates a loss in trade competitiveness with exports becoming more expensive and imports getting cheaper, while a REER below 100 means the country’s exports are competitive.