In the month under review, Senegal once again recorded a deterioration in its external competitiveness, materialized by a 0.8% increase in the real effective exchange rate (REER) on a monthly basis, reports Libération.

This evolution is the result of a 0.1% appreciation of the nominal effective exchange rate (NEER), combined with an unfavorable inflation differential (+0.7 percentage points) over the same period. Furthermore, the Senegalese economy is experiencing a loss of competitiveness against trading partners in the Euro area, estimated at 0.8%, according to Libération. Against the member countries of UEMOA, the competitiveness losses are estimated at 0.6%.