(2008) Testing the Monetary Approach to Exchange Rate Determination: The Case of Pakistan.
Qayyum (2011) Exchange Rate Determination in Pakistan: Role of Monetary Fundamentals.
The official
exchange rate of manat to Russian ruble set by CBA decreased by 0.0001 manats or 0.37 percent.
"Our
exchange rate regime should be seen as a part of a broader package of economic reforms.
'It was not an appropriate policy to keep a fixed
exchange rate for long, due to which our situation today has been created.' The SBP governor said neither a fixed
exchange rate - as had been in the past - nor a free float was appropriate for the economy.
He explained that the government favoured this regime because 'if you take demand and supply factors into account, and the
exchange rate takes on market value, that will be best for our exports.'
Since December 2017, when the rupee was allowed to depreciate after nearly four years of managed
exchange rate stability, the currency has gone down 43%.
The SBP reported that in interbank the
exchange rate of Euro and Japanese yen remain constant at Rs 157.55 and Rs1.26 respectively whereas the increase of 38 paisa was witnessed in
exchange rate of British pound which was traded at Rs 182.52 against Rs 182.14 of last day.
The relationship between the real
exchange rate volatility and export flows is relatively a recent area of research in the economic literature.
The updated official UAH/USD
exchange rate will be published 2 hours earlier every business day, before 4:00 p.m.
We are told that we do not need to be rocket scientists to realize our currency
exchange rate problem.
The empirical results indicate that no causality exists between domestic stock prices and
exchange rates of US dollar and Japanese Yen against Naira; while causality ensues from domestic stock prices to
exchange rate of Euro and British Pound Sterling against Naira.