Karachi November 30 2022: The REER index was recorded at 100.36 in October 2022 as compared to 90.71 in September 2022 deteriorate by 10.63 percent, according to data published by State Bank of Pakistan.
While during the month of October 2022 Pak rupee appreciate 3.4 percent to close the month at 220.7, 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.
