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Foreign Exchange Reserves: Bangladesh Perspective

International Journal of Finance & Banking Studies

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Title Foreign Exchange Reserves: Bangladesh Perspective
 
Creator Alam, Md Zahangir; International Islamic University Chittagong, Dhaka Campus-Bangladesh
Abdur Rahim, Muhammad
 
Subject —
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Description This study is about foreign exchangereserves of Bangladesh. The mainpurpose of this study is to the influence of exchange rates on foreign exchangereserves to the Bangladesh context.  Both the primary and secondary data has been used inthis study. The primary data has been collected through a structuredquestionnaire from 50 respondents. The secondary data, namely Bangladeshforeign exchange reserves (FER), Bangladesh current account balance (CAB),Bangladesh capital andfinancial account balance (CFAB), and BDT/USD exchange rates (ER).  This study covers yearly data from July 01,1996 to June 30, 2005 and quarterly data from July 01, 2005 to June 30, 2012. Findingsof this study shows that out of the selected 16 factors affecting foreignexchange reserves, exchange rates occupy the first position, weighted averagescore (WAS) being 4.56. Foreign exchange reserves (FER) and current accountbalance (CAB) have increased by 502.9087% and 1451.218%,whereas capital and financial account (CFAB) has decreased by -649.024% on June30, 2012 compared to June 30, 1997. The influence of other factors heldconstant, as ER changes by 285.6894 units due to one unit change in FER, onaverage in the same direction which represents that ER has positive effect on theFER and this relationship is statistically significant.  62.1526 percentof the variation in FER is explained by ER. The outcomes of Breusch-Godfrey test (LM test), ARCHtest, and the Normality test are that there is a serial correlation among residuals, the variance of residuals is notconstant, and the residuals are not normally distributed.
 
Publisher SSBFNET
 
Contributor —
 
Date 2013-10-22
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://www.ssbfnet.com/ojs/index.php/ijfbs/article/view/204
 
Source International Journal of Finance & Banking Studies (ISSN: 2147- 4486); Vol 2, No 4 (2013): October; 1-12
2147-4486
 
Language eng
 
Relation http://www.ssbfnet.com/ojs/index.php/ijfbs/article/view/204/357