The Efficiency of Foreign Exchange Markets in Pakistan

dc.contributor.author	Rizwana Bashir
dc.contributor.author	Rabia Shakir
dc.contributor.author	Badar Ashfaq
dc.contributor.author	Atif Hassan
dc.date.accessioned	2014-10-16T05:48:06Z
dc.date.available	2014-10-16T05:48:06Z
dc.date.issued	2014-06
dc.identifier.citation	The Lahore Journal of Economics Volume 19, No.1	en_US
dc.identifier.issn	1811-5438
dc.identifier.uri	http://121.52.153.179/Volume.html
dc.identifier.uri	http://hdl.handle.net/123456789/7064
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	© The Lahore School of Economics	en_US
dc.subject	forward exchange rate efficiency	en_US
dc.subject	Foreign exchange markets	en_US
dc.subject	emerging economy	en_US
dc.title	The Efficiency of Foreign Exchange Markets in Pakistan	en_US
dc.title.alternative	An Empirical Analysis	en_US
dc.type	Article	en_US