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- W2112980004 abstract "This study investigates the efficiency of foreign exchange market in Pakistan. Based on monthly data during the period of July 2000 to October 2012 for 13 currencies against the Pak Rupee, three techniques of regression analysis are applied. The result of regression on trended data portrayed that unbiased hypothesis does not hold in the exchange rate market owing to serial correlation and non-stationary time-series data. The regression analysis with de-trended data remarked exchange rate market of Pakistan is neither efficient nor speculative. The findings of regression analysis with orthogonality experiment explored incidence of bandwagon behavior in selected currencies. The results of this study suggested that concerned authorities should reinforce information dissemination procedure and regulate unofficial currency markets activities for maintaining the efficiency of foreign exchange market in Pakistan." @default.
- W2112980004 created "2016-06-24" @default.
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- W2112980004 date "2015-01-01" @default.
- W2112980004 modified "2023-09-24" @default.
- W2112980004 title "The Efficiency of Exchange Rate Market: A Case Study on Pakistan" @default.
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- W2112980004 doi "https://doi.org/10.11648/j.ijefm.20150302.17" @default.
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