Pakistan’s Real Effective Exchange Rate (REER) depreciated to 100.16 in August 2024, according to data issued by the State Bank of Pakistan (SBP) on Wednesday.
According to the latest monthly data released by the central bank, the REER Index stood at 100.16 in August 2024 against 101.50 recorded in July 2024.
It is pertinent to mention here that REER was recorded at 104.5 in April 2024, the highest after September 2018 (5 years, 8 months).
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.
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