Karachi August 24 2022: The REER index was recorded at 93.16 in July 2022 as compared to 93.98 in June 2022 improved by 0.87 percent, according to data published by State Bank of Pakistan.
While during the month of July 2022 Pak rupee lost 14.6 percent to close the month at 239, as per official data of SBP.
Note: A REER index of 100 should not be misinterpreted as denoting the equilibrium value of the currency. 100 merely represents the value of the currency at a chosen point in time (in this case the average value of the currency in 2010). Therefore, movement of the REER away from 100 simply reflects changes relative to its average value in 2010 and is unrelated to its equilibrium value.
