Karachi March 20 2024: The REER index was recorded at 102.2 in February 2024 as compared to 101.8 in January 2024 gained by 40 basis points, according to data published by State Bank of Pakistan.
Interestingly, during the month of February 2024 Pak Rupee appreciate 36 percent to close the month at 279.1117 as per official data of SBP. Despite this gain in REER Index Pakistan Rupee remained stable during the month of March 2024 so far.
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.
