Overview of the Nominal Exchange Rate and Real Effective Exchange Rate in Pakistan with a discussion on the various factors that influence the value of the exchange rate including external inflows, interest rates, fiscal health and demographics.

1. F O R C I R C U L AT I O N
Is the dollar fairly priced in Pakistan?
Macro Pakistani

2. 2
Before 2018, the exchange rate was appreciated relative to historical values
Source: State Bank of Pakistan

3. 3
Financial Account USD 4,658 M
Current & Capital Account USD 366 M
State Bank of Pakistan’s reserves have grown by almost USD 4 billion
Source: SBP; MP Analysis

4. 4
Roshan Digital Accounts have been a strong contributor this past year
Source: SBP; MP Analysis