الفهرس Only 14 pages are availabe for public view
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Abstract
The study aims primarily at investigating the impact of policy-induced changes in the nominal interest rate on the nominal exchange rate in Egypt. It starts with a review of the theoretical underpinnings regarding the relationship between the two variables and the channels through which higher interest rates are transmitted to the exchange rate. Using monthly data for Egypt and applying time series econometric techniques of VAR, VECM, and ARDL over the 2005-2014 period, the study found an insignificant impact of interest rate on the exchange rate over the sample period. Relevant policy implications are then drawn