The Influence of Foreign Exchange Volatility, Interest Rates on the Stock Performance of Uganda Securities Exchange
Eric Nzibonera and
Journal of Finance and Investment Analysis, 2019, vol. 8, issue 2, 1
This study examines the influence of foreign exchange rate volatility and interest rate, on the stock performance of the firms listed on the Uganda Securities Exchange (USE). Using the Arbitrage Pricing Model on 16 firms for a ten (10) year period. The findings of this study suggest that increase in foreign exchange rate, and interest rate reduces the performance of the stocks of the listed firms in USE. This implies that when the Uganda shilling depreciatesÂ Â against the US dollar or when interest rates increase, the performance of stocks on the USE will shrink and vice versa. The major contribution, is the localization of research findings on how movements in macroeconomic factors affect performance of stocks. Â JEL Classification Number: E43 Key words: Foreign Exchange, Interest Rates and Stock Performance
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:spt:fininv:v:8:y:2019:i:2:f:8_2_1
Access Statistics for this article
More articles in Journal of Finance and Investment Analysis from SCIENPRESS Ltd
Bibliographic data for series maintained by Eleftherios Spyromitros-Xioufis ().