36. Indices of Nominal Effective Exchange Rate (NEER) and Real Effective Exchange Rate (REER) of the Indian Rupee

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Published on June 25, 2025

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36. Indices of Nominal Effective Exchange Rate (NEER) and Real Effective Exchange Rate (REER) of the Indian Rupee

Item

2023-24

2024-25

2024

2025

May

Apr

May

40-Currency Basket (Base: 2015-16=100)

1 Trade-Weighted

1.1 NEER

90.75

91.05

91.96

89.71

89.14

1.2 REER

103.71

105.28

104.40

100.78

101.08

2 Export-Weighted

2.1 NEER

93.13

93.53

94.24

92.39

91.98

2.2 REER

101.22

102.35

101.40

97.85

98.32

6-Currency Basket (Trade-weighted)

1 Base : 2015-16 =100

1.1 NEER

83.62

82.39

83.60

80.36

80.29

1.2 REER

101.66

102.74

102.11

99.12

99.25

2 Base : 2022-23 =100

2.1 NEER

97.31

95.89

97.29

93.52

93.44

2.2 REER

99.86

100.92

100.31

97.37

97.50

Note: Data for 2023-24 and 2024-25 so far is provisional.
Increase in indices indicates appreciation of rupee and vice versa. For 6-Currency index, base year 2022-23 is a moving one, which gets updated every year. REER figures are based on Consumer Price Index (combined). The details on methodology used for compilation of NEER/REER indices are available in December 2005, April 2014 and January 2021 issues of the RBI Bulletin.