Rupee REER
Rupee's real effective exchange rate rises in June after six months of decline
This story was originally published at 19:52 IST on 22 July 2026
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--RBI: Rupee effective FX rate index 91.26 in Jun vs 89.08 in May
MUMBAI – The rupee's real effective exchange rate, based on a basket of 40 currencies in terms of trade-based weights, rose in June after six consecutive months of decline, according to data released by the Reserve Bank of India Wednesday. The rupee's real effective exchange rate index rose to 91.26 in June from 89.08 in May. The latest print indicates that the Indian currency is undervalued by almost 9%.
The rupee recovered slightly against the dollar in June on hopes of a peace deal between the US and Iran and as crude oil prices moderated from their peak.
"In real effective terms, INR appreciated in June vis--vis its major trading partners, driven by appreciation of INR in nominal effective terms and higher domestic inflation," the RBI staff said in the State of the Economy article in the central bank's monthly bulletin.
The 40-currency basket includes the currencies of Angola, Australia, Bangladesh, Brazil, Canada, Chile, China, Egypt, the European Union, Ghana, Hong Kong, Indonesia, Iran, Iraq, Israel, Japan, Kenya, Kuwait, Malaysia, Mexico, Nepal, Nigeria, Oman, Qatar, Russia, South Korea, Saudi Arabia, Singapore, South Africa, Sri Lanka, Switzerland, Taiwan, Tanzania, Thailand, Turkey, Ukraine, the United Arab Emirates, the UK, the US, and Vietnam. End
US$1 = INR 96.57
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Kabir Sharma
Edited by Saji George Titus
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