Highest in nearly 3 years: Pakistan’s REER index surges to 104.07 in March 2024
Pakistan’s Real Effective Exchange Rate (REER), a measure of the value of a currency against a weighted average of several foreign currencies, witnessed a further increase as it clocked in at 104.07 in March 2024, up from 102.1 in February 2024, data released by the State Bank of Pakistan (SBP) on Monday showed.
This is the highest level for the REER. Its previous highest was 104.2 in April 2021, reveals SBP data.
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.
