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Real Effective Exchange Rate of Rupee spikes in November
The Statesman Bhubaneswar
|December 26, 2024
The Reserve Bank of India (RBI) in its report highlighted that the Real Effective Exchange Rate (REER) of the Indian Rupee increased to 108.14 in November 2024 from 107.20 in October 2024.
This indicated the Indian unit appreciated by 0.9% month-on-month (m-o-m) in November.
The nominal appreciation of the rupee was strong enough to outweigh the impact of unfavorable price differences, according to a report titled 'Real Effective Exchange Rate and its Implications for India's Trade Balance'.
Despite heightened global uncertainties, the rupee exhibited the lowest volatility among major currencies.
This story is from the December 26, 2024 edition of The Statesman Bhubaneswar.
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