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A study on India: the dynamic brunt of macroeconomic variables on movement of exchange rate

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  • Baranidharan Subburayan

Abstract

This study's goal is to examine the dynamic behaviour of macroeconomic factors brunt on exchange rate movement in India over the period from May 2010 to August 2022. The study employed STATA software and econometric techniques including robust regression, GLS, and ARIMA model and the secondary data collected from RBI official website. The study's revealed that M3BM, IIP, and WIP had negative effects on the exchange rate, CMR and CP had favourable effects. Insignificant findings obtained for the TB, gold prices, NETFII, imported oil, TB91Days, and exchange rate (EXR). The study concluded that the exchanges rate movements were auto-regressed and brunt of economic fundaments was not effective expect, CMR and CP. The study offers regulators and policymakers the opportunity to create macroeconomic plans like INR as a trade exchange currency and for financial analysts and investors, as it helps them understand the interdependence of the macroeconomic variables and the exchange rate and thereby make informed investment decisions.

Suggested Citation

  • Baranidharan Subburayan, 2024. "A study on India: the dynamic brunt of macroeconomic variables on movement of exchange rate," International Journal of Business Forecasting and Marketing Intelligence, Inderscience Enterprises Ltd, vol. 9(2), pages 133-159.
    • Handle: RePEc:ids:ijbfmi:v:9:y:2024:i:2:p:133-159
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