Pakistan’s real effective exchange rate (REER) reached a three year high level of 103.3 at April-2021 end, marking a rise from previous month’s level of 100.5 , according to data released by State Bank of Pakistan (SBP).
The REER Index, developed by SBP, has been rising since January, when it fell to 95.2 with a 3.4% increase in the value of the rupee against the dollar in the current calendar year.
More than two years later, the REER index has returned to more than 100 in March-2021 and subsequently in April-2021.
The REER rose after the rupee exchange rate against the dollar reached 153.45 rupees per dollar at the end of April-2021.
REER index value near 100 means the Rupee value is justified against USD keeping in view the economic factors. A REER Index Value above 100 means that Rupee value will undergo some adjustments.
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