COVID-19 pandemic and the exchange rate movements: evidence from six major COVID-19 hot spots
نویسندگان
چکیده
Abstract The study’s primary objective is to unravel the nexus between COVID-19 crisis and exchange rate movements in six major hot spots—Brazil, China, India, Italy, Turkey, United Kingdom. impact of deaths on Rupee/USD, Pound/USD, Yuan/USD, Real/USD, Lira/USD, Euro/USD rates analyzed by using panel ARDL model. are used as a proxy for market expectations. model showed unidirectional long-run causality running from rate. In fact, coefficient positive significant explaining rate(s) long run. This result meets a-priori expectation that rise can depreciate sample countries’ rates. reason being, ongoing pandemic has changed expectations financial participants about future value spots. Therefore, countries experiencing sharp daily typically saw their currencies weaken.
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ژورنال
عنوان ژورنال: Future Business Journal
سال: 2022
ISSN: ['2314-7202', '2314-7210']
DOI: https://doi.org/10.1186/s43093-022-00126-8