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The Efficiency of Foreign Exchange Markets in Pakistan An Empirical Analysis
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| dc.contributor.author | Rizwana Bashir | |
| dc.contributor.author | Rabia Shakir | |
| dc.contributor.author | Badar Ashfaq | |
| dc.contributor.author | Atif Hassan | |
| dc.date.accessioned | 2014-08-19T10:06:20Z | |
| dc.date.available | 2014-08-19T10:06:20Z | |
| dc.date.issued | 2014-06 | |
| dc.identifier.citation | The Lahore School of Economics, Vol. 19, No. 1 | en_US |
| dc.identifier.issn | eISSN 1811-5446 | |
| dc.identifier.uri | http://121.52.153.179/JOURNAL/LJE_Vol_17-SE_PDF/TitleV17-SE.htm | |
| dc.identifier.uri | http://hdl.handle.net/123456789/6111 | |
| dc.description | PP.17, ill. | en_US |
| dc.description.abstract | This study investigates the empirical relationship between spot and forward exchange rate efficiency with reference to Pakistan and the efficiency of its foreign exchange market. We use monthly data from the State Bank of Pakistan and KIBOR rates for the period July 2006 to December 2013. Our results indicate that the forward exchange rate does not fully reflect all the information available. Market players may gain the benefits of volatility speculation due to market inefficiency. Pakistan’s foreign exchange market is still small compared to those of other emerging economies, implying that substantial policy work is required. | en_US |
| dc.language.iso | en | en_US |
| dc.publisher | © Lahore School of Economics | en_US |
| dc.subject | Foreign exchange markets | en_US |
| dc.subject | Forward exchange rate efficiency | en_US |
| dc.subject | Efficient market hypothesis | en_US |
| dc.subject | Emerging economy | en_US |
| dc.subject | Pakistan | en_US |
| dc.title | The Efficiency of Foreign Exchange Markets in Pakistan An Empirical Analysis | en_US |
| dc.type | Article | en_US |
