PKR’s REER Index rises to 108.9 in September

According to Mettis Global, Pakistan's Real Effective Exchange Rate (REER) climbed to 108.93 in September 2026 from 107.87 in August. The reading represents a 0.98% gain over the month and a 6.92% rise against the 101.88 level of September 2025.

The Nominal Effective Exchange Rate (NEER) moved up more modestly, to 38.07 from 38.02 a month earlier, which works out to 0.11% higher. On an annual basis it was 0.80% above the 37.77 recorded in September 2025.

Mettis explains that a rising REER signals a stronger rupee after adjusting for inflation against trading partners, but it also means exports become dearer and imports cheaper, reducing trade competitiveness. The index compares a basket of goods across countries, and a value of 100 reflects the average in 2010 rather than an equilibrium level.