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TOQ Effects on the Romanian Foreign Exchange Market

Author

Listed:
  • Dumitriu Ramona

    (Dunarea de Jos University of Galati, Romania)

  • Stefanescu Razvan

    (Dunarea de Jos University of Galati, Romania)

Abstract

Many calendar anomalies were identified not only on the capital markets but also on the foreign exchange markets. This paper explores the Turn-of-the-quarter (TOQ) Effect presence on the Romanian Foreign Exchange Market. We employ daily values of the official exchange rates of the Romanian national currency against euro and US dollar for two periods: January 2007 - December 2014 and January 2015 - April 2021. The results of the investigation revealed significant changes that occurred in TOQ Effects from the first to the second period.

Suggested Citation

  • Dumitriu Ramona & Stefanescu Razvan, 2021. "TOQ Effects on the Romanian Foreign Exchange Market," Risk in Contemporary Economy, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, pages 246-253.
    • Handle: RePEc:ddj:fserec:y:2021:p:246-253
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    References listed on IDEAS

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