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NEER and REER . #NEERandREER

  NEER stands for Nominal Effective Exchange Rate and REER stands for Real Effective Exchange Rate.

  Usually the exchange rate is determined for a domestic currency against a single foreign currency. In the effective exchange rate (EER) system, a currency is fixed against a basket of currencies. For NEER and REER the basket is SDR (Special Drawing Rights at IMF) currencies.

  The way real GDP arrived from nominal GDP after correcting it for price change the REER is arrived from NEER.

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