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

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  • Hakizimana Phanuel

    (Adventist University of Central Africa, P. O. Box 2461, Kigali, Rwanda.)

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.

Suggested Citation

  • Hakizimana Phanuel, 2024. "Effect of Exchange Rate Fluctuation on Financial Performance of Forex Bureaus in Rwanda. Case Study of XYZ Forex Bureau," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 8(4), pages 486-493, April.
    • Handle: RePEc:bcp:journl:v:8:y:2024:i:4:p:486-493
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    References listed on IDEAS

    as
    1. Md. Shakhaowat Hossin & Md. Fazlu Mondol, 2020. "Impact Of Exchange Rate Fluctuations On Financial Performance Of State-Owned Commercial Banks In Bangladesh: An Empirical Study," Noble International Journal of Economics and Financial Research, Noble Academic Publsiher, vol. 5(9), pages 92-101, September.
    2. Md. Shakhaowat Hossin* & Md. Shafiul Islam, 2019. "Stock Market Development and Economic Growth in Bangladesh: An Empirical Appraisal," International Journal of Economics and Financial Research, Academic Research Publishing Group, vol. 5(11), pages 252-258, 11-2019.
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