TOQ Effects on the Romanian Foreign Exchange Market

Autor: Dumitriu Ramona, Stefanescu Razvan
Jazyk: angličtina
Rok vydání: 2021
Předmět:
Zdroj: Risk in Contemporary Economy, Vol 1, Iss 1, Pp 246-253 (2021)
Druh dokumentu: article
ISSN: 2067-0532
Popis: 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.
Databáze: Directory of Open Access Journals