Abstract
The main objective of this paper is to examine the weak form and semi-strong form efficiency of foreign exchange market in India. The daily closing spot rates of USD/INR, EUR/INR, JPY/INR and GBP/INR for the period of ten years from 1999 to 2009 was analyzed. Augmented Dickey Fuller Test, Auto Correlation, Runs Test, Johansen Co Integration Test and Granger Causality Test confirms the weak form and semi-strong efficiency of Foreign Exchange Market in India.
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