Value Of Currency Research Articles

Reserve currency and the volatility of clean energy stocks: The role of uncertainty

Clean energy firms are among the most risky firms to invest in. Hence, it is essential to have a clear understanding of the risk profile of clean energy stocks. The main purpose of this study is to examine how changes in the reserve currency (US dollar) value affect the volatility of clean energy stocks in the absence/presence of uncertainty information. To this end, the volatility of clean energy stocks is first obtained by considering uncertainty information in the exponential generalized autoregressive conditional heteroskedastic (EGARCH) volatility estimates. Then, using the autoregressive distributed lag (ARDL) model, this study investigates the effect of reserve currency (US dollar) value fluctuations on the volatility of clean energy stocks. Controlling for monetary conditions, financial stress, and business cycle fluctuations, the study finds that, in the absence of uncertainty information, the volatility of clean energy stocks is not influenced by US dollar fluctuations. However, an appreciation of the US dollar against major foreign currencies significantly increases the volatility of clean energy stocks when uncertainties about economic policy, exchange rate market, and gold market are included in the picture. We find that economic uncertainty mediates the link between reserve currency and the volatility of clean energy stocks. The results shed more light on the risk profile of clean energy stocks and suggest the need for predictable and stable policies to increase the attractiveness of clean energy stocks.

Impact of Public Capital Expenditure on Inflation Rate in Nigeria

This paper examines the impact of public capital expenditure on inflation rate in Nigeria. The data for the study were sourced from various issues of the Central Bank of Nigeria’s statistical bulletin. The data was subjected to unit root test using Augmented Dickey fuller (ADF) approach to ascertain the time series properties. Descriptive statistics was used to assess the socioeconomic characteristics of the variables. Due to the mixed order of integration witnessed in the unit root, ARDL- Autoregressive Distributed Lag approach was used for cointegration and regression analysis. The result found that Public capital expenditure is negatively and statistically significant (tcal = -2.903) in influencing Inflation Rate in Nigeria. This outcome is highly directional in the sense that prudent and productive spending will always subdue inflation in any economy; therefore, this study recommend that government should increase its investment in production sectors and encourage skilful and willing citizens to participate, since this would reduce the expenses being incurred on business as a result low currency value and raise the profitability of firms.

Hybrid Extreme Learning Machine dan Firefly Algorithm untuk Meramalkan Nilai Tukar Rupiah terhadap Dolar

Every country has a currency as a medium of exchange and the movement of its exchange rate can affect the economy of the country. In Indonesia, since the freely floating exchange rates system has been applied in August 1997, the value of rupiah currency in the foreign exchange market can change at any time. Considering the massive impacts of exchange rate fluctuation on the economy, then forecasting the exchange rate of rupiah against the US dollar is important to help Indonesia’s economic growth. The aims of this thesis is to predict the estimated exchange rate of rupiah against the US dollar in the future by using hybrid artificial neural network extreme learning machine (ELM) method and firefly algorithm (FA). In the training process, ELM-FA hybrid has a role to obtain the best weight and bias. The weight and bias that obtained will be used for forecasting and to know the success rate of the training process, the validation test process is required. Based on the implementation of program and simulation for some parameter values on the exchange rate data from Jan 2015 until Jan 2018, with four input and hidden nodes, and one output node, obtained the smallest MSE of the training is 0.000480513 with MSE of the testing is 0.0000854107. The relatively small MSE value indicates that ELM-FA network is able to recognize the data pattern well and able to predict the test data well.

Does renewable energy use enhance exchange rate appreciation and stable rate of inflation?

The current study is aimed at investigating the relationship between the use of renewable energy, the rate of currency exchange, and the rate of inflation with the ARDL model. The findings of the ECM show that in the long run, a bidirectional association between exchange rate and renewable energy exists in Brazil. This shows that the rate of currency exchange affects the use of renewable energy, and the use of renewable energy affects the rate of currency exchange. The inflation rate also affects renewable energy and exchange rate in the long run. The rate of adjustment to equilibrium is also below 50%, indicating that it will take a long time to adjust to long-run equilibrium. In the short run, we ascertain that renewable energy use has a significant negative effect on the rate of currency exchange, showing that a rise in the use of renewable energy significantly causes the exchange rate to appreciate. The long-run results show that renewable energy use negatively impacts exchange rate (appreciation), while the inflation rate and rate of currency exchange significantly affect the use of renewable energy positively. Thus, in addition to lowering carbon dioxide emissions and global warming effects, renewable energy use also facilitates an improvement in the currency's value. Therefore, the use of renewable energy should be promoted, and nations should shift to the use of renewable energy. This will also promote zero carbon in the future.

Does the Value of Currency Affect the Numbers of International Inbound Tourists to Turkey?

This study examined the effect of the value of the currency on international inbound tourist numbers to Turkey from Germany and Russia, which are the top two tourist generating countries for Turkey. Two different Turkish Lira regimes are investigated with Threshold Vector Autoregressive (Threshold-VAR) models, using the real broad effective exchange rate for Turkey as a threshold variable. The endogenous variables vectors are the macroeconomic variables of the tourist origin countries: the real broad effective exchange rate, consumer price index ratio (proxying for the price level), and total industry production (proxying for income level) for Germany and Russia. Because of data constraints, the estimated Threshold-VAR models for Germany and Russia covered different periods in 1997:01-2020:05 and 2000:01-2020:05, respectively. The key finding for both policymakers and tourism researchers is that when travels become cheaper in the Turkish Lira, this does not always attract more foreign tourists to Turkey.

Improving the efficiency of cash collection operations with the help of modern information technologies

Despite the steady spread of non-cash payment technologies, especially now in the pandemic, cash remains the most common method of payment in all countries.
 The availability of cash in banking institutions, cash centers, ATMs, various self-service devices is provided by the units of collection and transportation of currency values.
 Collection of funds and transportation of currency values ​​is an integral part of the cash circulation of any banking system, which consists in the collection, delivery and movement of cash by vehicles, from enterprises, institutions, organizations of various forms of ownership to banking institutions and vice versa.
 The cost of conducting cash collection, supporting cash registers, branches, and loading ATMs constitues a significant part of all operating expenses of banks and collection companies. Due to the high level of risk of attacks on the teams of collectors, the main task is to maintain an appropriate level of security to protect life and health of collectors, which requires significant financial costs. Business owners find a way out in the introduction of new innovative banking products and information technologies.
 The article examines the processes of cash collection operations by classical and electronic methods as well as modern innovative technologies for cash collection, cash processing, and protection of valuables. The results of scientific research show that the reduction of operating costs for cash collection increases the level of security, and optimization of cash processing is possible only with the active implementation and use of modern information technology and automated software.
 The article proves the need to improve the mechanism of state regulatory policy in the market of cash collection services in Ukraine, in particular, to amend the regulatory legal acts of the regulator, which is represented by the National Bank of Ukraine, in terms of refining and detailing legal norms that establish and determine the procedure operations on cash collection in electronic form and periodicity of collection units employees training.

The Relationship between Macroeconomic Factors and Tourism Demand for ASEAN Countries

The current paper investigates the relationship between macroeconomic factors and tourism demand for nine selected ASEAN countries. Based on the panel data analysis, it is identified that income is positively related to tourism demand where an increase in the level of income for ASEAN leads to higher tourist arrival to the region. The income is also shown to be the most important factor that determines tourism demand as demonstrated by the high coefficient value in the estimation. The appreciation of ASEAN currencies meanwhile is identified to discourage tourists from visiting the region and on the other hand, trade openness stimulates the demand as it implies the ease of entry. Since majority of the tourist came from developed countries with high purchasing power, price level is identified to be not significant in explaining the movement of tourism demand in the region. To develop the tourism sector, proper plans should be made including to improve the infrastructure, tourism facility and travel safety, and ease of entry considering the positive impact of economic development and trade openness. Relevant strategies should also be made to attract tourists from countries with higher purchasing power and strong currency value since it implies to be important in explaining the movement of tourism demand.

Computation of Energy in Currency Values Using Long Short-term Memory-based Approach for Energy Prediction

Computation of Energy in Currency Values Using Long Short-term Memory-based Approach for Energy Prediction

The Role of Politics and Policy Strategy in Facing a Covid-19 Pandemic: Case Study in Indonesia

The purpose of writing an article is to find out how to handle the spread of the Covid-19 virus in Indonesia following national politics and strategy, what policies and priorities have been taken by the government and the impact of covid-19 on economic development in Indonesia. This research method is qualitative research that is a literature study (library research) that uses books and other literature as the main object. The literature study in this study is a literature study without empirical tests. The data presented is data in the form of words that require processing to be concise and systematic. The government has issued policies such as PSBB, lockdown, and established online learning and also prioritizes all public services especially health and food. The policy can also improve all impacts that hamper economic growth, especially currency values. With covid-19 it is expected that the community will always pay attention to cleanliness in all matters, especially washing hands. © 2021. RIGEO. All Rights Reserved.

COST-EFFECTIVENESS OF ORPHAN DRUGS FOR LEUKEMIA TREATMENT: A SYSTEMATIC REVIEW

Introduction: Leukemia is a rare disease related to hematologic cancer stemming from the bone marrow. The Vietnam Ministry of Health (MOH) promulgated the Orphan Drugs List, in which there were 37 orphan drugs indicated for leukemia. This study aimed to systematically review all studies on the cost-effectiveness analysis (CEA) of these orphan drugs in leukemia treatment. Materials and methods: This study conducted a systematic review on all studies published till August 2021 on the National Center for Biotechnology Information (NCBI), SpringerLink, and Biomed Central. 23 studies were selected in this systematic review, which were studies that had available full-texts, were written in English, aimed to analyze the cost-effectiveness of leukemia drugs listed on the Vietnam MOH’s Orphan Drugs List. The results were presented by describing CEA findings by five different leukemia types, with a focus on the incremental cost-effectiveness ratio (ICER) of each orphan drug and the comparison to the willingness-to-pay (WTP) threshold. All the cost currency values were converted to USD in 2021 to make comparison. Results: Of 37 drugs on the Vietnam MOH’s orphan drug list, 24 drugs were cost-effectiveness analyzed with available full-texts. Of 23 selected studies in the review, there were 10 studies regarding lymphocytic leukemia (43.5%) and 13 studies regarding myeloid leukemia (56.5%). 60.9% studied on relapsed/refractory patients, 39.1% conducted cost-analyses with a social perspective, and 47.7% used overall survival combined with progression-free survival (OS-PFS) as a clinical endpoint. Quality-adjusted life year (QALY) was used as an effectiveness measurement unit in 65.2% of the total selected studies. 15 studies made a conclusion that their studied orphan drugs were cost-effective. 100% of the studies regarding acute lymphoblastic leukemia showed the orphan drugs of interest were cost-effective (ICER < WTP threshold); while about 50% of the studies regarding other leukemia types showed the orphan drugs of interest were not cost-effective (ICER > WTP threshold) and thus required suitable financial aid. Conclusion: This study provided information on the cost-effectiveness of 24 out of 37 orphan drugs for leukemia treatment listed on the Vietnam MOH's Orphan Drugs List. These orphan drugs could be considered as a financial burden for leukemia patients and other potential payers such as the Vietnam Social Security due to their considerably high cost.

A Study on the Relationship between Hostel Investment and Inflation in Akure, Nigeria

One of the important objectives of holding an investment is to protect investors’ real currency value invested against inflationary trend and enjoy a continuous positive flow of real return. In Nigeria, majority of investors in real estate are uncertain concerning the hedging capability and existing relationship between return in real estate and inflation rates. This research paper identifies the degree of relationship between returns in hostel investment and inflation rates in Akure, Nigeria. Environs of Federal University of Technology Akure (FUTA) were chosen as a study area because of influx of investors in hostel development in the area. Data on rental and capital income were collected from registered and practising Estate Valuation Firms in the study area through self-administered questionnaire, while rates on inflation were obtained from Central Bank and Bureau of Statistics data bank in Nigeria. 25 Estate Valuation Firms in Akure consist of the target population sourced from the NIESV (Nigerian Institution of Estate Surveyors and Valuers) Directory. Twenty-five questionnaires were administered to Estate Valuation Firms, fifteen were retrieved. The descriptive statistics include the mean return while inferential statistics used for the analysis includes Phillip Perron unit root test and Auto regressive distributed lag. The PP unit root result; shows the data sets exhibits a different combination order in terms of the integrations. Existing degree of relationship was seen to vary between hostel and inflation rates. However, instances where some hostels show a positive relationship with inflation component exist; while others show a negative relationship with the inflation components. The findings from this study will give empirical direction to both individual and institutional investors in hostels. It was recommended among others that the Nigerian government should work towards putting in place the relevant policy mix of fiscal and monetary policies to mitigate inflation rate to a single digit so that investors will be able to earn their real return.

ЎЗБЕКИСТОН РЕСПУБЛИКАСИДАН ЭЛЕКТРОН ВАЛЮТА ҚИММАТЛИКЛАРИНИ НОҚОНУНИЙ РАВИШДА ХОРИЖИЙ ДАВЛАТЛАРГА ОЛИБ ЧИҚИБ КЕТИЛИШИНИ ОЛДИНИ ОЛИШ ЧОРАЛАРИ ХУСУСИДА

To date, there are cases of illegal export of values in electronic currency from the Republic of Uzbekistan to foreign countries, in particular, suchforeign currency as cryptocurrency, blockchain, mining. This situation, in turn, causes an escalation and an increase in the illegal withdrawal of electronic currency values from the Republic of Uzbekistan to foreign countries. Since the fight against theillegal export of currency values from the Republic of Uzbekistan to foreign countries remains an urgent task. Based on the foregoing, this scientific article will highlight in detail theimportance, prevention of illegal export of the Republic of Uzbekistan to foreign countries, illegal export of electronic currency values from the Republic of Uzbekistan to foreign countries establishment of administrative and criminal liability for embezzlement, legal regulation of relations related to electronic currency and relevance of the fight against illegal export of electronic currency values from the Republic of Uzbekistan to foreign countries, proposals on preventive measures

Monetary Policy for the Real Economic Sector in Muslim Majority Countries: A Transitional Solution

The paper examines the issue of monetary policy from an Islamic perspective and offers a transitional solution given the existing circumstances in the contemporary Muslim economies, dominated by financial institutions, fiat currencies, and fractional reserve banking. Qualitative research with a “complex systems” perspective is used to determine the state of monetary policy in several Muslim majority countries, to study the issues and challenges, as well as to point out the most problematic areas that need urgent addressing. The paper will argue that central banks are the main institutions that have the power and responsibility to maintain the country’s economic stability and the value of a local currency, as well as to affect the inflation and unemployment rates. It will be argued that in the current circumstances central banks can act within the given system to (1) encourage financing of small and medium enterprises; (2) initiate the growth of small local financial institutions, such as cooperative and savings banks; and (3) allow “monetary democracy.” The paper is therefore divided into three main parts. After the introduction, the first section will provide a historic overview of ideas on monetary policy by several influential Muslim economists over the last forty years and will offer a critique of their views. The second section will deal with the issues of money and banking from a “complex systems” perspective and demonstrate common misconceptions that lead to improper understanding amongst the general public and the academic community. And before concluding, the paper will offer intermediate solutions within the current financial system. This section will argue that central banks can use the power of the banking system to create money to finance SMEs while curbing speculation and limiting the purchase of financial assets.

Forecasting INR Exchange Rate Against USD, GBP, JPY, SGD, EUR, AED Using Machine Learning

The price of a native currency expressed in terms of another currency is known as a foreign exchange rate. In other terms, a foreign exchange rate compares the value of one currency to that of another. The value of standardized currencies varies with demand, supply, and consumer confidence around the world due to which their values fluctuate over time. To forecast the exchange rate of INR, I have developed a machine learning model. The model was trained to estimate six foreign currency exchange rates against the Indian Rupee using historical data. This model uses Random Forest algorithm to train and predict the values. The suggested system’s predicting performance is assessed and contrasted using statistical metrics. According to the findings, the Random Forest algorithm-based model predicts well and achieves an accuracy of 93.61%. KEYWORDS: Regression, Random Forest, Exchange Rate, INR

Determinasi Keputusan Hedging Perusahaan Publik Sektor Pertanian 2013-2019

A multinational company uses a determination of hedging decisions in international trade. The difference in currency values is a risk that will occur and minimize this risk using hedging. This research's independent variable is firm size, profitability, liquidity, growth opportunity, and leverage. The hedging is the dependent variable. This research used secondary data derived from annual financial reports by quantitative approach. The object used in this research is agricultural sector companies on Indonesia Stock Exchange in 2013-2019 with 11 companies as the sample. The data analysis technique used is logistic regression. This study indicates that profitability proxied by return on assets positively affects the company's hedging decisions. Meanwhile, growth opportunity calculated by using a comparison between the market value of equity and book value of equity, leverage proxied by the debt to assets ratio, liquidity proxied by the current ratio, firm size measured using the natural logarithm of total assets does not affect the company's hedging decisions. This research explains that companies with high profitability should do hedging activities to protect the company from adverse risks.

ВАЛЮТА ҚИММАТЛИКЛАРИНИНГ ЎЗБЕКИСТОН РЕСПУБЛИКАСИДАН НОҚОНУНИЙ РАВИШДА ХОРИЖИЙ ДАВЛАТЛАРГА ОЛИБ ЧИҚИБ КЕТИЛИШИГА ҚАРШИ КУРАШ -ДОЛЗАРБ ВАЗИФА!

Today, as a result of the reforms carried out in the field of currency policy liberalization in the Republic of Uzbekistan, a wide range of favorable opportunities for entrepreneurs and citizens engaged in foreign economic activity is being created. Nevertheless, there are attempts to illegally use the opportunities created by some citizens and "unclean entrepreneurs", in particular, there arecases of illegal withdrawal of currency values from the Republic of Uzbekistan to foreign countries.This situation, in turn, causes an escalation and growth of illegal withdrawal of currency values from the Republic of Uzbekistan to foreign countries. Since the fight against the illegal export of currency values from the Republic of Uzbekistan to foreign countries remains an urgent task. Based on the above, this scientific article will cover in detail the importance and relevance of the fight against the illegal export of currency values from the Republic of Uzbekistan to foreign countries, proposals for measures to prevent it. Keywords:protectionism, currency, currency values, foreign economic activity, illegal export, import, export, tariff and non-tariff regulation.

Analysis of the Return and Risk of Investment in Insurance Companies Listed on the Indonesia Stock Exchange

The return and risk of stock investment have a high level of volatility because it depends on fundamental and technical conditions and the influence of micro and macro variables. This study aims to determine the risk and return on investment in insurance companies and analyze the effect of macroeconomic variables on the level of risk and return on investment in insurance companies. The sampling technique used was purposive sampling. Data analysis shows that for three years, Asuransi Jasa Tania Tbk has the highest level of conclusion, which is 22.3%, and Asuransi Harta Aman Pratama Tbk. has the lowest rate of -3.3%. For three years, the value of Gross Domestic Product has increased successively so that this will cause a stock return that is proportional to the level of risk that will be faced. Changes in the inflation rate up and down for three consecutive years have a different effect every year where when the inflation rate decreases, the rate of return on investment will be high. In addition, the interest rate decreased from 4.75% in 2016 to 4.25% in 2017. Then it increased to 6.00% in 2018. The Rupiah exchange rate against the dollar is getting weaker, indicating an increase in the exchange rate. Every year from 2016 to 2018. When the rupiah exchange rate weakens, people will choose to invest in foreign currencies because the value of these foreign currencies can determine the size of the risk of a business.

Interest Rate Theory in Islamic Economic Perspective

Inflation is a condition in which there is a sharp (absolute) increase in prices that lasts continuously for a long period of time followed by a decline in the real (intrinsic) value of a country's currency. circulating through an increase in bank interest rates. For this reason, the government carries out monetary policy by suppressing the money supply through increasing bank interest rates. However, the interest rate has various kinds, namely classical interest rate theory, neo classical, modern keyness and hicks. Therefore, this study focuses more on interest rates and the theory of interest rates by experts. So that it produces descriptive research.

Hyperinflation, depression, and the rise of Adolf Hitler

Hyperinflation, depression, and the rise of Adolf Hitler

Anomalies of the Housing Market in Albania

The real estate sector is one of the most important sectors of the economy for developing countries. The housing market is directly related to the performance of economy. The impact of this market is measured through the volume of various transactions, such as real estate sales, lease contracts, construction contracts, import transactions, foreign exchange, transactions of financial intermediaries and real estate agencies, employment contracts, etc. The real estate market is directly influenced by housing policies, the level of financial system development, visible additional costs (tax rates and credit costs) and its invisible costs (which is informality and information asymmetry). Hypotheses: The housing market operates according the rules of the supply-demand and the factors that affect the fluctuation of housing prices. The purpose of the article is to evaluate the demand factors in the performance of house prices in Albania. Methodology: The study employs an exploratory analysis based on the literature review, the secondary data and empirical analysis. The authors make a comparison between the factors identified by the literature review, the analysis of the secondary data for the Albanian real estate market, and statistical relationships of individual factors as well: GDP/capita, Exchange rate, Interest rates in ALL, Interest rates EURO, Remittances and the level of mortgage loans in EURO. In the conclusions of the paper, some of the factors that have directly influenced the fluctuations in real estate prices in Albania are: the demand and the supply of real estate; the change in the value of the functional currency; state intervention through fiscal policies and urban planning; credit financing to businesses and individuals, etc.