Pakistan’s Real Effective Exchange Rate Depreciates to 98.6 in September 2024

Pakistan’s Real Effective Exchange Rate (REER) depreciated to 98.6 in September 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 98.6 in September 2024 against 100.1 recorded in August 2024.   The REER reading for September 2024 is the lowest after December 2023 when it clocked in at 98.86. It is pertinent to mention here that REER was recorded at 104.5 in April 2024, the highest after September 2018.    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.