Latest news with #NEER
Business Recorder
16-05-2025
- Business
- Business Recorder
Pakistan's REER index clocks in at 99.42 in April 2025
Pakistan's Real Effective Exchange Rate (REER), a measure of the value of a currency against a weighted average of several foreign currencies, dropped to 99.42 in April 2025, down from 101.55 (revised) in March 2025, data released by the State Bank of Pakistan (SBP) on Friday showed. A REER above 100 means the country's exports are uncompetitive, while imports are cheaper. The situation reverses when REER is below 100 on the index. As per SBP's latest data, the REER depreciated 2.1% month-on-month (MoM) in April 2025. When compared with April 2024, the REER value decreased by 4.8%, when it stood at 104.44. The SBP says a REER index of 100 should not be misinterpreted as denoting the equilibrium value of the currency. 'Movement of the REER away from 100 simply reflects changes relative to its average value in 2010 and is unrelated to its equilibrium value,' the central bank said in an explanatory note on the topic. Meanwhile, the Nominal Effective Exchange Rate Index (NEER) decreased by 1.06% MoM in April 2025 to a provisional value of 38.12 from 38.53 (revised) in March 2025. On a yearly basis, the NEER index decreased 2.97% from the value of 39.29 in April 2024. What is REER? As per the central bank, REER is an index of the price of a basket of goods in one country relative to the price of the same basket in that country's major trading partners. 'The prices of these baskets expressed in the same currency using the nominal exchange rate with each trading partner. The price of each trading partner's basket is weighted by its share in imports, exports, or total foreign trade,' the SBP website says.
Yahoo
10-04-2025
- Politics
- Yahoo
Measure requiring DEP to apply a ‘test' before OK-ing oil drilling advances to full Senate
Entrance to the Apalachicola National Estuarine Research Reserve. (Photo via reserve website) A bill that would require the state to apply a 'balancing test' in considering proposed gas or oil drilling permits near certain waterbodies and shore areas won unanimous approval in a Senate committee on Thursday and now goes to the full Senate for consideration. The measure (SB 1300), sponsored by North Florida Republican Corey Simon, differs from its House companion (HB 1143), which would ban oil and gas drilling within 10 miles of a National Estuarine Research Reserve (NEER). There are three NEER's in Florida — the Apalachicola in North Florida, the Guana Tolomato Matanzas in Ponta Verde Beach, and Rookery Bay in Naples. The House bill sponsors, North Florida Republican Jason Shoaf and Democrat Allison Tant, have said that their legislation is a response to a decision last year by the Florida Department of Environmental Protection to permit an exploratory oil well along the Apalachicola River. Wakulla County resident Hunter Levine, host of the Captain's Collective podcast, which focuses on the fishing industry, spoke before the Senate Agriculture, Environment, and General Government Appropriations Committee on Thursday. He said that he's interviewed nearly 200 fishing industry leaders across the globe and learned from their shared experiences. 'And whether they're fishing guides or small business owners, oystermen, artists, photographers — they've all shared one common lesson, and that it's the decisions that we make today determine the opportunities that we afford others tomorrow,' he said. 'These amazing places are not an accident, they are a result. … A result of good policy and protection, something that this bill offers.' 'The possibility of potentially drilling is very concerning for my business and for the future of these farmers,' added Jeff Wren of Rattlesnake Cove Oysters. 'I appreciate Sen. Simon looking out for our way of life.' Both House and Senate versions of the legislation have cleared all of their committees and await a final vote in their respective chambers. SUPPORT: YOU MAKE OUR WORK POSSIBLE
