Impactul modificării ratei dobânzii asupra cursului de schimb în România

The impact of interest rates changes on the exchange rate in Romania

Nicolae Ghiba

MPRA Paper from University Library of Munich, Germany

Abstract: Connection between interest rate and foreign exchange is important because of the economic volatility of the two variables, which has an impact on several macroeconomic indicators: inflation, real income, exports and imports. This papers aims to establish a series of characteristics regarding the impact of interest rate in exchange rate volatility. This kind of analysis regarding the link between the interest rate differential and the exchange rate is called Uncovered Interest Parity. In Romania, the currency regime of managed floating with no preannounce path for the exchange rate and the inefficiency of exchange rate channel involves a poor relationship between exchange rate differential and exchange rate.

Keywords: exchange rate; volatility; depreciation; appreciation; interest rate (search for similar items in EconPapers)
JEL-codes: C51 E4 F0 F3 F31 (search for similar items in EconPapers)
Date: 2010-10-10, Revised 2011-01-27
New Economics Papers: this item is included in nep-tra
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https://mpra.ub.uni-muenchen.de/28451/1/MPRA_paper_28451.pdf original version (application/pdf)
https://mpra.ub.uni-muenchen.de/34721/1/MPRA_paper_34721.pdf revised version (application/pdf)
https://mpra.ub.uni-muenchen.de/34721/2/2010_IASI_ ... chimb_in_Romania.pdf revised version (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:28451

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