India Real Effective Exchange Rate
Real effective exchange rate index PX.REX.REER
India's real effective exchange rate was 90.65 in 2026 (projected), ranked 4th globally. This represents a 6.5% decrease from 2025. Data from BIS, covering 1994–2026.
Overview
India's real effective exchange rate stood at 90.65 in 2026, a decline of +6.28 from 2025. Based on recent trends, this figure is projected to reach 91.11 by 2027. India ranked 4th globally.
India's Real Effective Exchange Rate has exhibited a generally stable trajectory over the past three decades, despite experiencing fluctuations. The indicator's value has hovered around its all-time peak of 102.05, reached in 2024, with a slight decline to 90.65 in 2026, ranking fourth globally. Historically, the REER has shown resilience, with the trough of 85.65 in 1996 being a notable exception. A comparison with peer countries reveals that India's current REER is more in line with China's 89.85, while Indonesia's 92.06 and Hong Kong SAR, China's 92.62 are relatively higher. The stable nature of the REER in India may be attributed to the country's large and diverse economy, which has helped mitigate the impact of external exchange rate pressures. However, a significant shift in global trade patterns or a change in India's economic policies could potentially alter the trajectory of the REER, warranting close monitoring of future developments.
Data & projection
| Year | Real Effective Exchange Rate | YoY change | Rank |
|---|---|---|---|
| 2029* trend | 86.53 | - | - |
| 2028* trend | 88.82 | - | - |
| 2027* trend | 91.11 | - | - |
| 2026 | 90.65 | −6.28 | #4 |
| 2025 | 96.93 | −5.12 | #9 |
| 2024 | 102.05 | +2.67 | #50 |
| 2023 | 99.38 | −1.49 | #44 |
| 2022 | 100.87 | +0.96 | #54 |
| 2021 | 99.90 | −0.10 | #56 |
| 2020 | 100.00 | +0.63 | #54 |
| 2019 | 99.37 | +1.95 | #52 |
| 2018 | 97.42 | −4.46 | #42 |
| 2017 | 101.88 | +4.36 | #68 |
| 2016 | 97.52 | +1.17 | #49 |
| 2015 | 96.36 | +6.74 | #45 |
| 2014 | 89.62 | +1.36 | #9 |
| 2013 | 88.26 | −4.35 | #7 |
| 2012 | 92.60 | −6.20 | #9 |
Detected Pattern
Analysis
India matched the Fiscal Dominance Trap pattern in 2010. Historically, 72% of countries showing this pattern (278 out of 386) saw real effective exchange rate improve within 24 months. View full analysis →
Frequently Asked Questions
India's real effective exchange rate was 90.65 in 2026. Ranked 4th globally. This represents a 6.5% decrease from the previous year.
India's real effective exchange rate peaked at 102.05 in 2024.
The lowest real effective exchange rate in India was 85.65 in 1996.
India ranks 4th globally in real effective exchange rate as of 2026.
The World Bank indicator code is PX.REX.REER. Data sourced from BIS.
India's real effective exchange rate is projected to reach 91.11 by 2027 based on trend extrapolation.
The real effective exchange rate of India in 2026 was 90.65. This ranks 4th in the world.
Cite this page
@misc{historysaid_india_reer,
title = {India Real Effective Exchange Rate},
url = {https://historysaid.com/india/reer/},
publisher = {HistorySaid},
year = {2026}
}