Effect of Exchange Rate Fluctuation on Financial Performance of Forex Bureaus in Rwanda. Case Study of XYZ Forex Bureau

Hakizimana Phanuel
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Hakizimana Phanuel: Adventist University of Central Africa, P. O. Box 2461, Kigali, Rwanda.

International Journal of Research and Innovation in Social Science, 2024, vol. 8, issue 4, 486-493

Abstract: The main objective of this study was to assess the effect of exchange rate fluctuation on financial performance of forex bureaus in Rwanda. The study was carried out at XYZ Forex Bureau. Both descriptive and regression research designs were used during the study. Apart from financial statement analysis, the researcher used the universal sampling technique on which 23 employees were selected and answered on a given questionnaire. The data collected were analyzed using SPSS version 23. Based on the result shown from the test of hypotheses, it was found a positive and significant effect of exchange rate fluctuations on the financial performance of XYZ Forex Bureau. Thus, the researcher recommends the Rwandese policy makers to implement policies aiming at rising the Rwandan currency and effectively monitor high exchange rate fluctuations which lead to the poor performance of forex bureaus.

Date: 2024
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