Lesotho Real Effective Exchange Rate
Real effective exchange rate index PX.REX.REER
Lesotho's real effective exchange rate was 77.78 in 2024, ranked 9th globally. This represents a 4.1% increase from 2023. Data from BIS, covering 1980–2024.
Overview
Lesotho's real effective exchange rate stood at 77.78 in 2024, a rise of +3.03 from 2023. Based on recent trends, this figure is projected to reach 77.42 by 2025. Lesotho ranked 9th globally.
Lesotho’s real effective exchange rate (REER) has fallen sharply from an early‑period level of 204.01 in 1980 to a 2024 value of 77.78, placing the country ninth globally among 45‑year observations. The index reached its all‑time high of 207.13 in 1992, reflecting a strong external value of the lilangeni, before declining to a trough of 73.90 in 2016, the lowest point in the series. The recent REER of 77.78 is comparable to Norway’s 73.67 and slightly below the Russian Federation’s 80.03, indicating that Lesotho’s currency is relatively undervalued against a basket of trading partners. Such a pronounced depreciation suggests improved price competitiveness for exports but may also signal external vulnerabilities, including reliance on remittances and South African economic conditions. If global commodity prices stabilize and domestic reforms enhance productivity, the downward trajectory could moderate, allowing the REER to settle at a more sustainable level.
Data & projection
| Year | Real Effective Exchange Rate | YoY change | Rank |
|---|---|---|---|
| 2027* trend | 77.09 | - | - |
| 2026* trend | 77.25 | - | - |
| 2025* trend | 77.42 | - | - |
| 2024 | 77.78 | +3.03 | #9 |
| 2023 | 74.75 | −5.49 | #7 |
| 2022 | 80.24 | −1.46 | #6 |
| 2021 | 81.69 | +6.56 | #9 |
| 2020 | 75.13 | −4.81 | #6 |
| 2019 | 79.94 | −1.74 | #8 |
| 2018 | 81.68 | +1.50 | #10 |
| 2017 | 80.18 | +6.28 | #8 |
| 2016 | 73.90 | −4.44 | #5 |
| 2015 | 78.33 | −3.20 | #8 |
| 2014 | 81.53 | −4.80 | #7 |
| 2013 | 86.34 | −9.06 | #5 |
| 2012 | 95.40 | −4.28 | #17 |
| 2011 | 99.68 | −0.32 | #42 |
| 2010 | 100.00 | +4.51 | #62 |
Detected Pattern
Analysis
Lesotho matched the Export Boom Cycle pattern in 2024. 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
Lesotho's real effective exchange rate was 77.78 in 2024. Ranked 9th globally. This represents a 4.1% increase from the previous year.
Lesotho's real effective exchange rate peaked at 207.13 in 1992.
The lowest real effective exchange rate in Lesotho was 73.90 in 2016.
Lesotho ranks 9th globally in real effective exchange rate as of 2024.
The World Bank indicator code is PX.REX.REER. Data sourced from BIS.
Lesotho's real effective exchange rate is projected to reach 77.42 by 2025 based on trend extrapolation.
The real effective exchange rate of Lesotho in 2024 was 77.78. This ranks 9th in the world.
Cite this page
@misc{historysaid_lesotho_reer,
title = {Lesotho Real Effective Exchange Rate},
url = {https://historysaid.com/lesotho/reer/},
publisher = {HistorySaid},
year = {2026}
}