No. 50 : Indices of Real Effective Exchange Rate (Reer) and Nominal Effective Exchange Rate (Neer) of the Indian Rupee

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No. 50 : Indices of Real Effective Exchange Rate (Reer) and Nominal Effective Exchange Rate (Neer) of the Indian Rupee

(5-country trade based weights)


Year / Month / Day		Base: 1991-92		Base: 1993-94		Base: 1997-98
		(April-March) =100		(April-March) =100		(April-March) =100
		NEER	REER	NEER	REER	NEER	REER
1		2	3	4	5	6	7
1991-92		100.00	100.00	131.54	116.48	152.19	109.80
1992-93		89.57	96.42	117.81	112.31	136.31	105.87
1993-94		76.02	85.85	100.00	100.00	115.70	94.27
1994-95		73.06	89.76	96.09	104.55	111.18	98.56
1995-96		66.67	86.33	87.69	100.56	101.46	94.79
1996-97		65.67	88.58	86.38	103.18	99.94	97.26
1997-98		65.71	91.08	86.43	106.08	100.00	100.00
1998-99 (P)		58.12	85.36	76.45	99.43	88.46	93.73

1993	January	92.35	99.49	121.48	115.88	140.55	109.23
	February	93.14	100.54	122.51	117.10	141.74	110.39
	March	76.80	82.88	101.02	96.54	116.88	91.00

1993-94	April	75.39	81.43	99.16	94.84	114.73	89.40
	May	75.17	81.54	98.88	94.98	114.41	89.53
	June	75.46	82.67	99.26	96.29	114.84	90.77
	July	76.49	84.45	100.61	98.37	116.41	92.73
	August	75.90	84.95	99.84	98.95	115.51	93.27
	September	74.98	85.19	98.63	99.22	114.12	93.53
	October	75.57	87.24	99.40	101.62	115.01	95.79
	November	76.57	88.23	100.72	102.76	116.53	96.87
	December	76.78	88.40	100.99	102.97	116.85	97.06
	January	77.34	89.22	101.73	103.92	117.71	97.96
	February	76.70	88.92	100.88	103.58	116.72	97.64
	March	75.94	88.01	99.89	102.51	115.57	96.64

1994-95	April	75.88	90.00	99.81	104.83	115.48	98.82
	May	75.27	90.49	99.01	105.40	114.56	99.36
	June	74.60	90.19	98.13	105.06	113.54	99.03
	July	73.18	89.56	96.25	104.32	111.37	98.33
	August	73.31	89.73	96.42	104.51	111.57	98.52
	September	72.82	88.87	95.78	103.51	110.82	97.57
	October	72.05	88.24	94.78	102.78	109.66	96.89
	November	72.33	89.04	95.14	103.72	110.08	97.77
	December	73.28	91.37	96.39	106.43	111.52	100.33
	January	72.67	91.43	95.59	106.50	110.60	100.39
	February	72.14	91.00	94.89	105.99	109.78	99.91
	March	69.14	87.20	90.94	101.57	105.22	95.75

1995-96	April	68.18	86.61	89.68	100.88	103.77	95.09
	May	68.92	88.38	90.66	102.95	104.90	97.04
	June	68.69	88.22	90.35	102.76	104.54	96.87
	July	68.96	89.21	90.71	103.91	104.95	97.95
	August	70.37	91.42	92.56	106.49	107.09	100.38
	September	68.04	88.51	89.50	103.09	103.55	97.18
	October	64.80	84.49	85.23	98.41	98.62	92.76
	November	64.63	84.72	85.01	98.68	98.35	93.02
	December	64.64	84.29	85.03	98.18	98.38	92.55
	January	63.75	82.72	83.85	96.35	97.02	90.82
	February	62.39	80.89	82.06	94.22	94.95	88.82
	March	66.62	86.51	87.63	100.76	101.40	94.98


Year / Month / Day				Base:1991-92		Base: 1993-94		Base: 1997-98
				(April-March) =100		(April-March) =100		(April-March) =100
				NEER	REER	NEER	REER	NEER	REER
1				2	3	4	5	6	7
1996-97	April			67.47	88.05	88.75	102.56	102.68	96.68
	May			66.19	86.94	87.07	101.27	100.74	95.46
	June			66.26	87.36	87.16	101.75	100.85	95.91
	July			65.03	87.12	85.54	101.47	98.97	95.65
	August			64.28	86.99	84.56	101.33	97.83	95.52
	September			64.63	87.85	85.01	102.33	98.36	96.46
	October			65.13	88.64	85.67	103.24	99.12	97.32
	November			64.28	87.95	84.56	102.45	97.83	96.57
	December			64.67	88.53	85.07	103.11	98.42	97.20
	January			65.49	89.50	86.14	104.24	99.67	98.27
	February			67.11	91.94	88.27	107.09	102.13	100.94
	March			67.44	92.10	88.71	107.27	102.64	101.12

1997-98	April			67.84	92.62	89.24	107.88	103.25	101.70
	May			67.03	91.40	88.16	106.46	102.01	100.36
	June			66.71	91.03	87.74	106.03	101.52	99.95
	July			67.40	92.31	88.66	107.52	102.58	101.36
	August			68.45	93.95	90.04	109.44	104.18	103.16
	September			67.19	92.55	88.38	107.80	102.26	101.61
	October			67.05	93.21	88.20	108.57	102.05	102.34
	November			65.03	90.46	85.54	105.36	98.97	99.32
	December			62.71	87.93	82.48	102.42	95.43	96.54
	January			63.04	89.50	82.92	104.24	95.94	98.26
	February			63.39	89.72	83.38	104.50	96.47	98.51
	March			62.65	88.24	82.40	102.79	95.34	96.89

1998-99	April			62.55	89.18	82.27	103.88	95.20	97.92
	May			61.45	88.19	80.82	102.72	93.52	96.83
	June			59.35	86.10	78.08	100.29	90.33	94.53
	July			59.07	86.81	77.70	101.11	89.91	95.31
	August			59.04	87.05	77.66	101.40	89.86	95.58
	September			57.56	85.55	75.71	99.64	87.60	93.93
	October			56.01	83.60	73.68	97.37	85.25	91.79
	November			56.50	84.31	74.31	98.20	85.98	92.57
	December			55.84	82.63	73.45	96.25	84.98	90.73
	January			55.75	82.31	73.33	95.87	84.85	90.37
	February			56.78	84.03	74.69	97.88	86.42	92.26
	March			57.54	84.61	75.69	98.55	87.58	92.90
1999-2000
	April			57.47	84.40	75.59	98.31	87.46	92.67
	May			57.70	85.08	75.90	99.10	87.81	93.41
	June			57.55	85.22	75.69	99.26	87.58	93.57
	July			57.45	85.31	75.57	99.37	87.44	93.67
	August			56.09	83.53	73.78	97.29	85.36	91.71
	September		(P)	55.48	83.53	72.97	97.29	84.43	91.71
	October		(P)	54.99	83.40	72.33	97.14	83.69	91.57
	November		(P)	55.60	84.14	73.14	98.00	84.62	92.38
	December		(P)	55.66	83.33	73.22	97.07	84.71	91.50
	January		(P)	55.60	83.08	73.13	96.77	84.62	91.22
	February		(P)	56.64	84.23	74.50	98.11	86.20	92.49

	As on
	February	18	(P)	56.69	83.93	74.56	97.76	86.27	92.15
	February	25	(P)	56.66	83.90	74.53	97.72	86.24	92.12
	March	3	(P)	56.95	84.15	74.90	98.02	86.67	92.40
	March	10	(P)	56.75	83.85	74.64	97.67	86.36	92.07
	March	16*	(P)	56.71	83.81	74.60	97.62	86.31	92.02

Note :	1.	Rise in indices indicate appreciation of rupee and vice versa.
	2.	For "Note on Methodology" on the indices presented here, please see Page S 653 of July 1998 issue of this Bulletin.
	3.	It may be recalled that in the aforesaid Note on Methodology, it was indicated that the base year 1996-97 would be a moving one. Accordingly, with effect from April 1999, the base year 1996-97 has been shifted forward to 1997-98.
*	:	Market closed on March 17, 2000