No. 51 : Indices of Real Effective Exchange Rate (REER) and Nominal Effective Exchange Rate (NEER) of The Indian Rupee

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Published on April 17, 2003

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No. 51 : 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 (April-March) = 100		Base: 1993-94 (April-March) = 100		Base: 2000-01 (April-March) = 100
					NEER	REER	NEER	REER	NEER	REER

1					2	3	4	5	6	7

1990-91					133.07	121.64	175.04	141.69	237.29	140.34
1991-92					100.00	100.00	131.54	116.48	178.31	116.38
1992-93					89.57	96.42	117.81	112.31	159.71	111.08
1993-94					76.02	85.85	100.00	100.00	135.56	99.24

1993-94					76.02	85.85	100.00	100.00	135.56	99.24
1994-95					73.06	90.23	96.09	105.81	130.27	105.01
1995-96					66.67	87.23	87.69	102.29	118.89	101.51
1996-97					65.67	88.20	86.38	103.43	117.21	102.64
1997-98					65.71	90.25	86.43	105.84	117.23	105.03
1998-99					58.12	83.38	76.45	97.79	103.64	97.04
1999-00					56.42	82.49	74.22	96.74	100.61	96.00
2000-01					56.08	85.92	73.77	100.76	100.00	100.00
2001-02 (P)					55.64	87.05	73.18	102.09	99.21	101.31
2000-01			October		56.08	87.04	73.77	102.07	100.01	101.30
			November		55.79	86.65	73.39	101.62	99.50	100.85
			December		55.23	85.99	72.65	100.85	98.49	100.09
			January		55.09	85.64	72.46	100.44	98.23	99.67
			February		55.49	85.97	72.99	100.82	98.95	100.05
			March		56.06	87.01	73.74	102.04	99.97	101.28
2001-02			April		56.41	87.73	74.20	102.89	100.58	102.16
			May		56.45	87.64	74.26	102.78	100.67	102.03
			June		56.92	88.55	74.87	103.85	101.51	103.12
			July		56.77	88.82	74.68	104.17	101.24	103.38
			August		55.74	87.35	73.32	102.44	99.39	101.66
			September		54.53	85.29	71.73	100.02	97.24	99.25
			October		54.44	85.78	71.61	100.60	97.08	99.84
			November		54.95	86.69	72.27	101.67	97.97	100.89
			December		55.37	87.20	72.84	102.26	98.74	101.49
			January		55.47	86.76	72.96	101.75	98.91	100.98
			February		55.46	86.48	72.95	101.42	98.89	100.64
			March		55.10	86.16	72.48	101.04	98.25	100.27
2002-03			April		54.65	85.34	71.88	100.09	97.44	99.32
			May		53.57	83.80	70.46	98.27	95.52	97.52
			June		52.70	83.38	69.32	97.78	93.97	97.04
			July		51.51	82.01	67.76	96.18	91.85	95.45
			August		52.08	83.45	68.50	97.87	92.86	97.12
			September		52.25	83.72	68.73	98.18	93.17	97.43
			October		52.56	84.23	69.14	98.78	93.72	98.03
			November	(P)	52.15	83.75	68.59	98.21	92.99	97.46
			December	(P)	52.00	83.24	68.40	97.62	92.73	96.88
			January	(P)	51.24	82.08	67.39	96.26	91.36	95.52
			February	(P)	51.32	82.62	67.51	96.89	91.52	96.15
			As on
			February	21 (P)	51.26	82.22	67.43	96.42	91.41	95.69
			February	28 (P)	51.46	82.57	67.69	96.83	91.76	96.10
			March	7 (P)	51.06	82.29	67.16	96.50	91.05	95.77
			March	13 (P)	51.20	82.51	67.35	96.76	91.30	96.03

Notes :	1.	Rise in indices indicates 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 2002, the base year 1999-00 has been shifted forward to 2000-01.
	4.	The indices on REER have been recalculated from April 1993 onwards using the new Wholesale Price Index (WPI) series with base year 1993-94
	5.	For a monthly time-series since April 1993, please see August 2002 issue of the Bulletin.