An Empirical Study on the Impact of Foreign Trade Capital on India’s Nominal Exchange Rate

Registration ID: IJNRD_226170

Published ID: IJNRD2407542

DOI: http://doi.one/10.1729/Journal.40867

VAIBHAV SONI , BIMAL JAISWAL

Foreign Trade, Nominal Exchange Rate, Import, Export.

This study aims to explore the relationship between trade and exchange rate fluctuations in India. It offers an empirical addition to the existing body of literature that has been analyzed to date. The study focuses on variables such as exports, imports of goods and services, and the exchange rate in India. While all components of foreign trade are considered explanatory variables, the nominal exchange rate of the Indian rupee against the US dollar serves as the dependent variable. The analysis relies predominantly on secondary data sourced from the Reserve Bank of India, covering a span of 32 years, from 1991 to 2022. A Multiple Regression model is employed to assess the extent of the relationship among these variables. The study’s findings indicate that exports and imports are key factors in explaining fluctuations in the exchange rate. Notably, many previous studies have concentrated on understanding the impact of exchange rates on foreign trade in both developing and emerging economies, as highlighted in the literature review. However, this research emphasizes the significance of foreign trade’s influence on the nominal exchange rate in India. It contributes to the existing literature by demonstrating that an increase in exports can lead to an appreciation of the exchange rate, and vice versa. Therefore, the Indian government should consider implementing measures to boost exports, which would help stabilize the nominal exchange rate.

Published Paper   E-Certificate

VAIBHAV SONI & BIMAL JAISWAL (July-2024). An Empirical Study on the Impact of Foreign Trade Capital on India’s Nominal Exchange Rate. INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 9(7), g395-g402. http://doi.one/10.1729/Journal.40867

Volume 9 Issue 7, July-2024

Pages : g395-g402

Paper Reg. ID: IJNRD_226170

Published Paper Id: IJNRD2407542

Downloads: 000121998

Research Area: Commerce

Country: LUCKNOW, UTTAR PRADESH, India

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Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD2407542

Crossref DOI: http://doi.one/10.1729/Journal.40867

Journal Name: INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT(IJNRD)

ISSN: 2456-4184 | IMPACT FACTOR: 8.76 Calculated By Google Scholar | ESTD YEAR: 2016

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