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Date : Sep 18, 2006

Table 215 : Indices of real effective exchange rate (REER) and nominal effective exchange rate (NEER) of the Indian rupee (36-currency bilateral weights) (monthly average)

(Base : 1993-94 = 100)
Year / Month	Export-based weights		Trade-based weights		Year / Month	Export-based weights		Trade-based weights
Year / Month	REER	NEER	REER	NEER	Year / Month	REER	NEER	REER	NEER
1	2	3	4	5	1	2	3	4	5
1993
Apr	99.95	98.4	99.84	98.29	Jul	104.03	92.99	101.75	93.11
May	99.47	98.41	99.39	98.3	Aug	105.4	94.21	102.98	94.25
Jun	99.65	98.66	99.65	98.66	Sep	104.66	93.14	102.23	93.09
Jul	101.12	100.33	101.07	100.3	Oct	105.38	93.69	102.97	93.63
Aug	100.62	100.08	100.65	100.09
					Nov	102.61	91.52	100.24	91.47
Sep	99.14	98.97	99.16	99
					Dec	100.33	89.3	98.05	89.38
Oct	99.53	99.64	99.54	99.62
Nov	100.66	100.94	100.76	100.99	1998
Dec	100.56	101.13	100.61	101.22	Jan	103.41	91.69	101.19	91.84
					Feb	102.55	91.74	100.31	91.83
1994
					Mar	100.75	90.36	98.61	90.46
Jan	100.94	101.85	100.93	101.87
					Apr	97.29	93.54	95.86	92.36
Feb	99.71	101.19	99.74	101.25
					May	96.44	92.16	95.01	90.99
Mar	98.49	100.36	98.51	100.43
					Jun	94.61	89.52	93.16	88.37
Apr	105.37	101	105.27	101.59
May	105.12	100.37	104.94	101.05	Jul	94.91	89.3	93.42	88.09
Jun	105.76	99.74	105.51	100.54	Aug	94.05	89.07	92.58	87.85
Jul	105.04	98.33	104.76	99.17	Sep	93.75	89.83	91.85	87.97
Aug	105.18	98.37	104.83	99.16	Oct	92.55	88.26	90.61	86.28
Sep	104.08	97.74	103.59	98.5	Nov	93.1	88.65	91.2	86.67
Oct	103.31	96.84	102.78	97.59	Dec	92.38	88.69	90.42	86.56
Nov	104.07	97.39	103.4	98.07
					1999
Dec	106.18	98.41	105.47	99.12
					Jan	92.93	90.37	92.65	89.82
1995					Feb	94.45	91.69	94.31	91.16
Jan	106.41	97.99	105.45	98.69	Mar	95.58	92.94	95.42	92.47
Feb	105.83	97.43	104.74	98.14	Apr	95.02	90.99	95.72	91.75
Mar	102.2	94.54	101.12	95.28
					May	95.29	91.11	96.01	91.86
Apr	103.47	94.53	101.97	95.26
					Jun	95.25	90.81	95.92	91.5
May	104.25	95.08	102.71	95.87
					Jul	95.19	90.65	95.91	91.31
Jun	104.25	94.9	102.61	95.69
					Aug	94.41	89.54	95.01	90.07
Jul	105.51	94.99	103.67	95.72
					Sep	94.59	89.59	95.27	90.14
Aug	106.48	96.05	104.5	96.73
					Oct	94.67	89	95.23	89.42
Sep	101.83	92.05	99.83	92.64
					Nov	95.68	89.98	96.36	90.48
Oct	97.37	87.95	95.43	88.45
					Dec	95.1	90.26	95.71	90.73
Nov	97.13	87.69	95.13	88.17
Dec	96.6	87.69	94.49	88.17	2000
1996					Jan	94.61	90.14	95.25	90.59
Jan	94.55	86.28	92.47	86.76	Feb	95.67	91.26	96.58	91.91
Feb	92.13	84.31	90.05	84.76	Mar	97.88	91.76	98.86	92.5
Mar	97.7	89.77	95.48	90.21	Apr	99.5	91.81	100.72	93.61
Apr	99.76	91.28	97.6	91.5	May	100.3	92.68	101.72	94.7
May	98.36	89.68	96.22	89.89	Jun	97.7	90.22	98.95	92.04
Jun	98.81	89.72	96.67	89.94	Jul	98.01	90.4	99.39	92.33
Jul	98.35	88.04	96.16	88.23	Aug	97.04	89.47	98.3	91.33
Aug	98.03	87.43	95.81	87.58	Sep	98.45	90.41	99.71	92.34
Sep	98.29	87.67	96.09	87.83	Oct	100.01	90.21	101.4	92.25
Oct	98.49	88.25	96.36	88.44	Nov	99.32	89.67	100.87	91.76
Nov	97.71	87.54	95.63	87.73
					Dec	98.35	88.8	99.87	90.88
Dec	98.38	87.99	96.35	88.23
					2001
1997
					Jan	97.89	88.56	99.46	90.61
Jan	99.01	88.98	97	89.28
					Feb	98.38	89.25	99.97	91.36
Feb	100.96	90.7	98.93	91.05
					Mar	99.1	89.93	100.72	92.18
Mar	101.28	91.13	99.2	91.49
					Apr	99.66	90.01	101.93	92.48
Apr	103.04	91.95	100.8	92.08
					May	99.58	90.07	101.84	92.51
May	102.15	91.52	99.89	91.64
					Jun	100.27	90.68	102.61	93.14
Jun	102.47	91.56	100.26	91.73
(Continued)

(Base : 1993-94 = 100)
Year / Month	Export-based weights		Trade-based weights		Year / Month	Export-based weights		Trade-based weights

	REER	NEER	REER	NEER		REER	NEER	REER	NEER
1	2	3	4	5	1	2	3	4	5
Jul	100.37	90.48	102.6	92.88	2004
Aug	99.31	89.22	101.15	91.25	Jan	98.37	86.52	98.35	85.26
Sep	97.55	87.95	99.29	89.96	Feb	99.03	86.79	98.97	85.45
Oct	97.83	87.78	99.76	89.95	Mar	100.1	88.19	100.21	87.01
Nov	98.43	88.36	100.48	90.65	Apr	99.38	91.21	101.43	90.43
Dec	98.39	88.7	100.71	91.26	May	97.47	89.27	99.63	88.66
					June	97.89	88.4	99.86	87.62
					July	97.06	87.12	98.89	86.21
2002
					Aug	97.54	86.8	99.54	86.03
Jan	97.43	88.57	99.85	91.3
					Sep	98.38	87.29	100.46	86.52
Feb	96.79	88.42	99.35	91.28
					Oct	97.45	87.13	99.36	86.15
Mar	97.45	88.76	100.76	92.31
					Nov	97.97	87.14	99.46	85.75
Apr	96.75	88.87	99.86	91.82
					Dec	98.73	88.55	100.03	86.92
May	95.48	87.75	98.23	90.36
Jun	95.43	86.83	97.95	89.18
					2005
Jul	95	86.07	97.21	88.19
					Jan	99.17	89.05	100.68	87.55
Aug	96.47	86.83	98.87	89.12
					Feb	99.51	89.66	101.15	88.2
Sep	96.77	87.2	99.12	89.5
					Mar	99	89.27	100.56	87.72
Oct	97.07	87.6	99.43	89.93
					Apr P	99.23	90.58	100.59	88.92
Nov	96.54	87.15	98.71	89.31
					May P	100.72	91.66	102.23	90.1
Dec	95.58	86.79	97.43	88.67
					Jun P	101.96	92.5	103.72	91.17
					July P	103.12	93.19	105.07	92.02
2003					Aug P	102.33	92.25	104.04	90.86
Jan	94.71	86.08	96.28	87.64	Sep P	102.33	91.79	104.13	90.45
Feb	95.52	86.34	96.98	87.75	Oct P	100.82	90.55	102.68	89.4
Mar	96.58	86.55	98.07	87.94	Nov P	99.71	89.38	101.59	88.36
Apr	98.23	87.86	99.21	87.74	Dec P	98.84	89.07	100.62	87.97
May	96.87	86.48	97.51	85.97
Jun	97.35	86.87	98.04	86.35	2006
Jul	99.04	88.48	99.87	88.04	Jan P	100.13	90.89	101.69	89.51
Aug	100.4	89.72	101.33	89.39	Feb P	100.3	91.24	101.91	89.92
Sep	100.66	89.29	101.5	88.85	Mar P	99.91	90.87	101.47	89.47
Oct	100.39	88.92	100.85	88.12	Apr P	97.61	89.16	98.41	88.2
Nov	100.11	88.45	100.52	87.56	May P	96.19	87.1	96.71	88.2
Dec	98.24	87.06	98.31	85.89	June P	96.32	86.58	97.06	88.2
P : Provisional.
Note : 1. The indices of REER are recalculated from April 1993 onwards using the new Wholesale Price Index (WPI) series (Base:1993-94 = 100). 2. The 36-Country REER & NEER are revised as 36- Currency REER & NEER and for “note on Methodology” on the indices, please see December 2005 issue of RBI Bulletin. 3. For old 36-country REER & NEER series, please see Handbook of Statistics on Indian Economy, 2004-05. Also see Notes on Tables.