Changes in the Monthly Effects from the Romanian Foreign Exchange Market
14 Pages Posted: 6 Oct 2012 Last revised: 12 Oct 2012
Date Written: May 8, 2010
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.
Keywords: Seasonality, Romanian Foreign Exchange Market, Foreign Trade, Monetary Policy
JEL Classification: G02, G14, G19
Suggested Citation: Suggested Citation