Changes in the Monthly Effects from the Romanian Foreign Exchange Market

14 Pages Posted: 6 Oct 2012 Last revised: 12 Oct 2012

See all articles by Ramona Dumitriu

Ramona Dumitriu

University Dunarea De Jos Galati

Costel Nistor

University Dunarea de Jos Galati

Razvan Stefanescu

University Dunarea de Jos Galati

Date Written: May 8, 2010

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.

Keywords: Seasonality, Romanian Foreign Exchange Market, Foreign Trade, Monetary Policy

JEL Classification: G02, G14, G19

Suggested Citation

Dumitriu, Ramona and Nistor, Costel and Stefanescu, Razvan, Changes in the Monthly Effects from the Romanian Foreign Exchange Market (May 8, 2010). Available at SSRN: https://ssrn.com/abstract=2157368 or http://dx.doi.org/10.2139/ssrn.2157368

Ramona Dumitriu (Contact Author)

University Dunarea De Jos Galati ( email )

Romania

Costel Nistor

University Dunarea de Jos Galati ( email )

Galati, 800001
Romania

Razvan Stefanescu

University Dunarea de Jos Galati ( email )

59-61 Nicolae B√£lcescu Street
Braila, Galati 800001
Romania

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