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Changes in the monthly effects from the Romanian foreign exchange market

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  • Dumitriu, Ramona
  • Nistor, Costel
  • Stefanescu, Razvan

Abstract

This paper investigates the systematic patterns displayed by the Romanian Foreign Exchange Market in some months of the year. In our analysis we employ monthly values of the Romanian national currency rates against the United States dollar and the euro. We find that since the Foreign Exchange Market settlement in Romania until present significant changes occurred in the monthly effects. We associate these changes to the new tend in the Romanian foreign trade and to the new monetary strategy of the central bank.

Suggested Citation

  • Dumitriu, Ramona & Nistor, Costel & Stefanescu, Razvan, 2009. "Changes in the monthly effects from the Romanian foreign exchange market," MPRA Paper 41743, University Library of Munich, Germany, revised 08 May 2010.
    • Handle: RePEc:pra:mprapa:41743
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    References listed on IDEAS

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    More about this item

    Keywords

    Seasonality; Romanian Foreign Exchange Market; Foreign Trade; Monetary Policy;
    All these keywords.

    JEL classification:

    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • G19 - Financial Economics - - General Financial Markets - - - Other

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