Grenada Real Effective Exchange Rate
Real effective exchange rate index PX.REX.REER
Grenada's real effective exchange rate was 88.29 in 2024, ranked 20th globally. This represents a 1.5% decrease from 2023. Data from BIS, covering 1979–2024.
Overview
Grenada's real effective exchange rate stood at 88.29 in 2024, a decline of +1.31 from 2023. Based on recent trends, this figure is projected to reach 86.16 by 2025. Grenada ranked 20th globally.
Grenada’s real effective exchange rate (REER) has fallen from an early‑period level of 92.49 in 1979 to a 2024 trough of 88.29, placing the island nation at rank 20 globally according to the BIS series. The index reached its historical high of 132.92 in 1985, reflecting a period of pronounced real appreciation that likely constrained export competitiveness. Over the 46‑year span, the gradual depreciation to the current 88.29 suggests a modest improvement in external price competitiveness, aligning Grenada closely with peers such as Cyprus (88.06) and Ireland (88.81). The downward trajectory is consistent with broader Caribbean trends of currency devaluation aimed at supporting tourism‑linked services and agricultural exports. Continued pressure on the REER could arise from shifts in global commodity prices, changes in trade policy, or capital flow volatility; absent such shocks, the modest depreciation is likely to persist, offering incremental support to Grenada’s export sector.
Data & projection
| Year | Real Effective Exchange Rate | YoY change | Rank |
|---|---|---|---|
| 2027* trend | 82.52 | - | - |
| 2026* trend | 84.34 | - | - |
| 2025* trend | 86.16 | - | - |
| 2024 | 88.29 | −1.31 | #20 |
| 2023 | 89.60 | −1.98 | #18 |
| 2022 | 91.58 | −1.28 | #24 |
| 2021 | 92.86 | −2.89 | #28 |
| 2020 | 95.76 | −0.66 | #33 |
| 2019 | 96.42 | +0.81 | #40 |
| 2018 | 95.60 | −2.19 | #31 |
| 2017 | 97.79 | −0.88 | #49 |
| 2016 | 98.67 | +2.26 | #57 |
| 2015 | 96.41 | +2.80 | #46 |
| 2014 | 93.61 | −2.87 | #20 |
| 2013 | 96.49 | −1.22 | #22 |
| 2012 | 97.71 | +0.65 | #42 |
| 2011 | 97.06 | −2.94 | #20 |
| 2010 | 100.00 | −0.63 | #48 |
Detected Pattern
Analysis
Grenada matched the Export Boom Cycle pattern in 1985. Historically, 71% of countries showing this pattern (546 out of 768) saw real effective exchange rate improve within 24 months. View full analysis →
Frequently Asked Questions
Grenada's real effective exchange rate was 88.29 in 2024. Ranked 20th globally. This represents a 1.5% decrease from the previous year.
Grenada's real effective exchange rate peaked at 132.92 in 1985.
The lowest real effective exchange rate in Grenada was 88.29 in 2024.
Grenada ranks 20th globally in real effective exchange rate as of 2024.
The World Bank indicator code is PX.REX.REER. Data sourced from BIS.
Grenada's real effective exchange rate is projected to reach 86.16 by 2025 based on trend extrapolation.
The real effective exchange rate of Grenada in 2024 was 88.29. This ranks 20th in the world.
Cite this page
@misc{historysaid_grenada_reer,
title = {Grenada Real Effective Exchange Rate},
url = {https://historysaid.com/grenada/reer/},
publisher = {HistorySaid},
year = {2026}
}