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Why Does the Indian Rupee Depreciate with Respect to Bahrain Dinar and Japanese Yen? An Insight into the Forex Market

Vol 7 , Issue 1 , January - June 2020 | Pages: 88-101 | Research Paper  

 
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https://doi.org/10.17492/focus.v7i1.195699


Author Details ( * ) denotes Corresponding author

1. * Suraj E. S, Associate Professor, Department of MBA, Naipunnya Business School, Thrissur, Kerala, India (surajandsuraj@yahoo.com)
2. Vidisha Agarwal, Research Scholar, Department of BBA, Christ University, Bangalore, Karnataka, India (vidhisha.agarwal@bba.christuniversity.in)
3. Nitha K. P, Assistant Professor, Department of Computer Sciences, Vidya Academy of Science & Technology, Thrissur, Kerala, India (nithacss2007@gmail.com)

This study focuses on knowing the root causes of rupee depreciation with respect to Bahrain Dinar and Japanese Yen in forex market. It is based on studying the correlation between macro variables which are FDI, FII, CPI and gold price and its impact on INR (Indian Rupee) in terms of BHD (Bahrain Dinar) and YEN (Japanese Yen) respectively. The reason for choosing BHD is mainly because India needs oil, and it has impact on all these macro-economic variables as well as on exchange rate. Similarly, Japan is also very important for the Indian economy as it brings in the FDI, for instance the 100 billion dollar vision fund for India. So it becomes extremely important to know the relation between BHD and Yen on INR on a long term basis. This will help the arbitrageurs, traders, exporters and importers to make use of the opportunity in their favour if there is rupee depreciation in forex market in relation to BHD and Yen.

Keywords

Arbitrageurs; Forex market; Bahrain Dinar; Japanese Yen; Indian Rupee; Depreciation

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