Value Of Currency Research Articles

Good Financial Planning Considering the Exchange Rate Fluctuation

The study discusses planning a management function, the success or failure of achieving predetermined goals depends on planning The financial planning process rate and political stability in saving money, Two important aspects in the financial planning process (1) Cash planning, which includes the preparation of the company's cash budget. (2) Profit planning, corporate profit planning made in the form of a pro forma financial report. Interest rate, changes in interest rates will affect the value of a country's currency in general against the dollar. Currency trading rates (forex), interest rates, and inflation are all interrelated. An increase in the interest rate causes a country's currency to appreciate. Political Stability the political stability and economic performance of a country can affect the strength of its currency.

Exchange Rate Fluctuations & Economy of Pakistan, Time series Analysis (1989-2013)

Economic stability is remained on topmost priority of every country, and different measures were suggested by the researchers worldwide, by moving on the same track study was carried out to predict the currency valuation factors, data were collected from export promotion bureau, state bank of Pakistan, and ministry of finance for 25 years (1989-2013), by using linear regression; currency valuation as dependent variable, exports, changes in external debt, and total reserves as independent variables and concluded that only the exports of Pakistan is a right predictor of currency valuation of the country which policy makers must have incorporate in formation of economic policies and setting the targets before fiscal policy.

한국 기업의 해외부동산 직접투자 진출에 대한 연구

Korea enacted the Foreign Exchange Management Act on December 31, 1961 for the purpose of balancing the balance of balance of payments, stabilization of currency value and efficient management of foreign currency funds. Therefore, the changes in real estate direct investment performance and related foreign exchange policy changes were examined using foreign real estate investment data from 1986 to 2016. The correlation between foreign direct investment and major macroeconomic variables (GDP, Kospi, exchange rate, domestic interest rate, etc.) Significance was reviewed through relationship analysis. As a result of the study, the government's univariate policy enforcement on foreign real estate direct investment has been evaluated to have a very positive effect on maintaining the balance of the balance of payments and stabilizing the economy. While the burden ratio had a significant effect on the company’s net direct investment in foreign real estate, the real estate market share and KOSPI index did not have a significant effect on the company’s net direct investment in overseas real estate.

ECONOMIC NATURE AND LEGAL STATUS OF CRYPTOCURRENCY

The article focuses on the relevance of establishing legal norms for virtual currency, which is currently working in the gray zone. The article substantiates why cryptocurrency was referred to other property in the framework of civil law. The issues of referring cryptocurrency to such objects of civil rights as monetary funds, currency values, securities, intellectual property, intangible assets, etc. are considered in detail. Based on a comprehensive analysis, the classification of cryptocurrency as a different property within the framework of civil law is substantiated. The author's definition of cryptocurrency is given as a cryptographically protected property with signs of cryptographic authentication, decentralization, management through consensus, and the use of distributed ledgers. The economic essence and legal status of the cryptocurrency proposed by the authors emphasize the exclusively digital version of the existence and use of this object, indicates the possibility of the turnover of this asset, delimits the concept of cryptocurrency, non-cash and electronic money. The definition of a crypto asset as property makes it possible to develop tax legislation, since the implementation of cryptocurrency is close to investment instruments, which makes it possible to clarify the issue of paying such a tax as VAT. Cryptocurrency as property describes not the thing itself, but the legal relations associated with it, that is, those rights that, according to the rules of law, can be exercised. The article also raises one of the main issues that must be resolved - this is the recognition of ownership of this specific type of property. According to the authors, the starting point for determining the ownership of the cryptocurrency should be that the subject of the right will be the owner of this asset if he legally gained access to the private key by analogy as the subject acquired the ownership of a tangible asset on a legal basis.

ХАРАКТЕРИСТИКА СУБ’ЄКТІВ, ОБ’ЄКТІВ ТА ПРЕДМЕТУ ВАЛЮТНОГО НАГЛЯДУ

The article explores the issue of elements of currency supervision, such as entity of currency supervision, its subjects and objects. The new risk-oriented currency supervision was introduced in Ukraine on February 7, 2019. So the author provides a description of the entities of currency supervision, their powers, objects of currency supervision, such as currency transactions and the subjects of currency supervision, such as currency values based on new legislation changes. In the article author also describs the system of state bodies in Ukraine, which have the powers in the field of currency supervision, their classification and their powers in the field of the currency supervision. The author also highlights the key differences between the entities of currency supervision based on new currency legislation introduced in Ukraine on February 7, 2019 and the currency legislation which has been operating in Ukraine since 1993.

الحرب الاقتصادية بين أمريكا والصين والسيناريوهات المستقبلية

With the expansion of foreign trade and the burning of competition between countries, the value of currencies began to play an effective and effective role in the global economy, as some countries resorted to reducing the exchange rates of their currencies against the currencies of other countries in order to make their exports more competitive, and the manifestations of the conflict between America and China over the prices of Exchange their currencies, as America accuses China of interfering in exchange and evaluating the yuan under its real value. While the Chinese view the expansionary and extremist monetary policies of the Federal Reserve as an act of currency manipulation, some fear that this conflict will develop into a competitive reduction race that could cause global trade shrinkage and stagnation, and undermine confidence internationally in the international monetary system, which It causes a global financial and economic crisis with a profound negative impact on the entire global economy and the developing economies in particular, which some believe will be the biggest loser of that conflict. The relationship between Washington and Beijing is currently witnessing a wave of political and strategic escalation, especially from the American side, and despite this this the escalation is not new from its predecessors during the past period. But in terms of form, it may be the most severe, but it will not reach the war. Both countries need each other, whereas as much as there are tensions and fundamental differences, it is matched by the existence of common interests.

Economic and Social Turmoil in Venezuela Caused by Autocracy and Misgovernance

Venezuela was once a thriving economy but it experienced one of the worst political crisis and economic catastrophe in modern times. The failure of leadership and erroneous policy measures were instrumental in this disaster. After Hugo Chavez, his successor Nicolás Maduro from socialist PSUV party took over in 2013. His extension through the general election in May 2018 remained shrouded under controversy. There was massive corruption, social repression, deceleration of productivity, economic indecision, higher dependence on oil, rampant human rights violation, and shutdown of businesses noticed during his regime. Venezuela is an oil rich country with the leading verified oil reserves in the world. Its economy is highly dependent on oil exports but oil production has plummeted tremendously. The nation failed to diversify in other lines of production even as oil prices started to fall since 2014 and the economy suffered beyond measure. As per IMF estimate, Venezuela's economy has shrunk by more than one-third between 2013 and 2017 approximately. Its currency value reduced to rubble, inflation skyrocketed, GDP growth rate went into tailspin and debt defaulted. There is unprecedented humanitarian crisis in Venezuela in recent times. Rise in violence and crime, hunger, malnutrition and poverty led millions of people to flee the country. As per the United Nations’ record, about 4.8 million Venezuelans left the nation since the crisis erupted in 2014. US imposed sanction on Venezuela in 2015 which further got intensified in 2017. There is now international pressure on Nicolás Maduro to step down and to allow his opponent Juan Guaidó to run the country. In the times of the Corona virus outbreak, this crisis has aggravated for the economically impaired nation.

The instruments of currency regulation of foreign economic activity

Relevance of research topic. In conditions of the high-level export-oriented national economy of Ukraine, the importance of foreign trade and monetary policy research including the development of currency regulation becomes especially relevant. The need for a system of currency regulation based on the principles of liberalization, which corresponds to both the general economic situation in Ukraine and global trends, requires special attention to studying the instruments of currency regulation. Analysis of recent research and publications. Among the most studied aspects of regulating currency relations should be noted: the theoretical fundamentals of international monetary and financial relations, state regulation of the economy, international regulation of monetary relations, liberalization of international monetary relations, the current state and prospects of development of currency regulation in Ukraine and the monetary and financial mechanism of foreign economic activity. Selection of unexplored parts of the general problem. Due to the global challenges and the constant evolution of monetary and financial relations, as well as the modernization of the system of currency regulation in Ukraine, the peculiarities of formation and application of the instruments of currency regulation of foreign economic activity require a more detailed study. Setting the task, the purpose of the study. To analyze the modern instruments of currency regulation of foreign economic activity and the peculiarities of their use in Ukraine. Method or methodology for conducting research. System and structural approach, method of logical analysis, statistical method, method of graphic analysis, method of comparison, method of structuring. Presentation of the main material (results of work). The paper describes approaches to the definition of currency regulation of foreign economic activity. Its place in the economic system of the state is considered. The system of instruments and levers of currency regulation of foreign economic activity is proposed based on direct and indirect regulation. The use of instruments of currency regulation of foreign economic activity in Ukraine in the modern conditions of currency regulation system liberalization is characterized. The field of application of results. Educational process (in the preparation of the relevant sections of textbooks and tutorials for courses “International Economics”, “Global Economics”, “Finance”). Conclusions according to the article. Analysis of the essence and approaches to the definition of currency regulation of foreign economic activity allows considering it as an instrument of currency policy and an integral part of foreign economic policy, state regulation of the economy, financial regulation of foreign economic activity. Indirect and direct currency regulations define its regulatory and control functions. Thereafter the exchange rate and currency transactions should be considered as the main instruments of currency regulation of foreign economic activity. The corresponding regulation levers are triggering the instruments of currency regulation of foreign economic activity. The levers of currency transactions instrument are rules of trade in currency values, currency restrictions, rules of administrating the foreign exchange proceeds of business entities. The levers of the exchange rate instrument are exchange rate regimes, devaluation/revaluation, foreign exchange interventions, foreign exchange reserves diversification. A new currency regulation system that provides the significant liberalization of currency transactions and capital movements was launched in Ukraine in 2019. According to it the concept of foreign exchange control as a repressive mechanism will be removed from the legislation, and a system of currency supervision will be introduced instead. The priority of less discriminatory instruments of currency regulation is also defined. Thus, it can be argued that the considered instruments of currency regulation of foreign economic activity reflect the trends of Ukraine's integration into the world financial and economic system.

EXPORT ANALYSIS: AUTHORITY OF INFLATION AND EXCHANGE RATE IN ASEAN-8

This study was aimed to analyze the relationship of long-term and short-term equilibrium between exchange rates and inflation on exports in ASEAN-8 countries (Brunei Darussalam, Laos, Indonesia, Malaysia, Singapore, Philippines, Vietnam and Thailand) by using analysis model with the Autoregressive Distributed Lag (ARDL) panel from the period 1990 to 2017. The model selection was based on long-term and short-term capabilities with different stationary levels. The results revealed that in long-term the exchange rate and inflation had a dominant influence on export activities in ASEAN-8 countries, while inflation had a dominant influence on exports in short-term. This result proved that inflation had a large influence on the growth of the trade stability, if the cost of products and services continuously increased in the market mechanism, it will result in the increased public consumption. The excess liquidity in the market triggered the consumption or speculation which resulted in the non-compliance products distribution and the decline in currency value continuously.

INFORMATION FLOW BETWEEN THE US DOLLAR-RUPIAH EXCHANGE RATES

This study investigates the information flow between non-deliverable forward (NDF), spot, and forward US dollar–rupiah exchange rates during the post-Quantitative Easing (QE) period. Our results show a unidirectional information flow from NDF to the spot and forward rates in the post-QE period. We also find that the Indonesian government securities (IGS) played a vital role during the QE period, while international reserves preceded the US dollar–rupiah spot, forward, and NDF exchange rates post-QE. Hence, international reserves became an important policy variable in managing the currency value. Our finding redefines the role of IGS as a policy tool. As a policy suggestion, the Bank Indonesia should maintain a sufficient amount of foreign reserves to mitigate foreign exchange risks of the rupiah.

Estimating the Costs of Managing Complications of Type 2 Diabetes Mellitus in Malaysia

This study aimed to estimate current direct costs for managing type 2 diabetes mellitus (T2DM)-related complications including ischaemic heart diseases (IHD), myocardial infarction (MI), stroke, heart failure (HF), amputation, blindness, renal failure (RF) requiring haemodialysis (end-stage renal disease) and diabetic foot ulcer in the event year and subsequent year. Initially, diabetes-related complications are defined based on the Malaysian Clinical Practice Guidelines (CPGs) or published literatures while each resource unit was valued using local costing obtained from the public hospital or other sources. The interventions for the management of complications were supported by evidence in the Malaysian CPGs or local literature and confirmed by the physicians related to the field who are working at the public hospital. All costs were converted to the value of USD currency in the year 2016. On the whole, macrovascular diseases incurred the highest management cost with MI employing the highest management cost (USD4,528.37) in the event year, while the management of heart, failure disease incurs the highest management cost at USD524.79 for subsequent year management. End-stage renal disease was associated with the highest annual per-patient costs, with mean first year and subsequent year costs for haemodialysis estimated at USD9,905.37 and USD9,233.89. In studying the costs of managing of diabetes-related complications, these data are vital economic evaluation for diabetes interventions, particularly in managing complications to macrovascular and microvascular functions, as it contributes significantly to the economic burden in Malaysia’s public healthcare; hence significantly affecting the proportion of the overall healthcare costs.

PRICE PREDICTION OF DIFFERENT CRYPTOCURRENCIES USING TECHNICAL TRADE INDICATORS AND MACHINE LEARNING

From the past two years with increasing geopolitical and economic issues, global currency values have been falling and stock markets have been having a poor run & investors losing wealth. This has led to a renewal of interest in digital currencies. Cryptocurrency one of the most prominent digital currency has found itself in spotlight with investors wanting a piece of it and business establishments accepting it as a source of payment due to its stable performance in the last few years. This research has been done on predicting cryptocurrency prices using machine learning based neural network which has a lowest the model loss over 100 epochs during training and Technical Trade Indicators (TTI) graphs depicts a real BTC value 5 to 10 times in 300-days of current fiscal year has further supported this increasing trader confidence and a shift in global cryptocurrency graph by predicted BTC values. On the same lines, we are analyzing bitcoin prices using Machine Learning and Sentiment Analysis. We also study stock market trends in order to better predict bitcoin prices quantitively. In this work we analyze the impact of global currencies like US Dollar, foreign exchanges on Bitcoin prices and whether Bitcoin has the stability to dethrone global currencies and become the single medium of transaction. This work is adequate enough to aid in predicting price and with results obtained from predicting Bitcoin prices using machine learning based neural network achieving an accuracy of 94.89% under all circumstances of technical trade indication thereby bringing down its price prediction by over 13.7% in April 2020 itself during evaluation.

The Use of Instructional Video Media to Increase The Motivation to Learn Mathematics in Grade II SDN 1 Bobotsari

<p><em>Media is an important component in increasing student motivation. The purpose of this study was to increase the learning motivation of students in learning mathematics using video media. This research is a classroom action research (PTK) which is conducted in two cycles, each cycle consisting of planning, implementation, observation, and reflection stages. The subjects of this study were 25 students of class II SD Negeri 1 Bobotsari, totaling 25 students. The research instrument was the observation sheet and documentation. Data analysis includes data reduction, data presentation, and drawing conclusions. The finding of this study is that the use of instructional video media can increase students' learning motivation in mathematics learning of students on the equivalent of currency values in class II SD Negeri 1 Bobotsari. The results of the study were indicated by an increase in the learning motivation of students in the first cycle 40%, in the second cycle it increased to 92</em><em></em></p>

Intervention Strategies in Foreign Exchange Market

Abstract The goal of the paper is to present the intervention strategies used by central banks in order to influence the value of the domestic currency, transparency versus discretion when it comes to publishing data about FX intervention and the cost and effectiveness of intervention. It is rarely that nowadays countries allow for an exchange rate to be formed on the market basis through the effects of supply and demand for foreign exchange on the foreign exchange market. The central bank buys or sells a foreign currency in the foreign exchange market in order to increase or decrease the value of its national currency in comparison to the foreign currency. The reasons for the intervention are the reduction of short-term oscillations of the exchange rate, the impact at the level of foreign exchange reserves, as well as the maintaining the price and financial stability as the ultimate goal of most central banks. The paper will present intervention strategies on foreign exchange market, which involves the implementation of interventions in the market of options, forward, foreign currency repo and foreign currency swaps. Then, on the spot market, interventions using an auction, as well as the application of foreign currency indexed certificates.

The View of the Experts on the Currency Depreciation of Cash Waqf Value

This study aims to analyze the view of the experts on the currency depreciation of cash waqf value. This research was decriptive qualitatif, the method of collecting data done by documentation and an interview. The data analysis used was content analysis. The result of this study found that the experts all agreed that the risk of decreasing currency value will have an impact on the value of cash waqf.

Dynamic responses of tourist arrivals in Australia to currency fluctuations

This study examines the dynamic responses of monthly Australian inbound tourist arrivals to higher frequency daily movements in the exchange rate. Many existing models of inbound tourism utilize currency values averaged over months or quarters to match available visitor data, thus discarding valuable dynamic information from higher frequency variations in the exchange rate. We employ a Mixed Data Sampling (MIDAS) approach, modelling monthly Australian inbound tourism from 1998 to 2018, while utilising daily observations of the domestic currency as an explanatory variable. The findings suggest that models that take averages of exchange rate data to match frequencies may substantially underestimate how sensitive tourists are in responding to short-term fluctuations in the exchange rate. Indeed, the overwhelming majority of such responses typically are observed within 15–20 days prior to travel. After considering time horizons of up to 90 days, our findings indicate that travelers are predominantly concerned with exchange rate variations again only within three weeks prior to their departures. The results suggest that the Mixed Data Sampling (MIDAS) methodology can be a useful supplement to traditional approaches to modelling tourism demand. MIDAS models can provide rich insights into the duration and patterns of the dynamic interplay between the variables of interest.

Black-Scholes Model of European Call Option Pricing in Constant Market Condition

Investment is a saving activity with the aim of overcoming price increases or often called inflation. Investments can be in the form of gold, property, silver or stock investments. Stock investment is considered more profitable than just saving at a bank. Currency values are declining due to inflation. This results in a tendency to invest in shares. Stock investment carries a great risk. Therefore, in 2004 stock options began to trade. Stock options are contracts that give the holder the right to buy / sell shares at the agreed time, at a certain price. Stock option prices tend to be cheaper than stock prices. Therefore, determining the right price of stock options is needed. In this study, we will focus on the European type of buying options, the right to buy shares at an agreed price at maturity. The purpose of this study is the completion of the Black-Scholes model of European type option prices at a constant market, assuming stock movements meet the stochastic differential equation, fixed risk-free interest rates, companies distributing dividends, no taxes, no transaction costs, and free market arbitration. The results of this research are in the form of differential equations and the settlement of the Black-Scholes model of European type call option prices, and a case study used by stock option contracts with a maturity of January 4, 2010, PT Aqua Golden Mississippi Tbk.

OIL PRICE FLUCTUATIONS AND STOCK MARKET BEHAVIOR IN A RESOURCE-DOMINANT ECONOMY: CASE OF KAZAKHSTAN

During the past 10 years, the oil market has been very unpredictable and volatile, which created uneasy conditions for market participants. The remedy of increasing oil prices is considered as a positive factor for the economy of the Republic of Kazakhstan as an oil-exporting country. Using structural decomposition of vector autoregression (VAR), this study aims to examine how the whole financial system in Kazakhstan is depending on oil prices. The results suggest that the strongest factor affecting the stock index is aggregate demand, and the impact of oil production shocks on the equity market is, on average, insignificant. Such shocks can be discounted while a fall in oil prices affects financial conditions as a whole, damaging the solvency of Kazakhstan, an oil-exporting country. With the positive shock of aggregate demand, the stock market index tends to rise. There is also an effect of oil price volatility on changes in currency value, which also influences the financial situation of the country. Moreover, oil-exporting countries such as Kazakhstan can secure and support their economies with the help of “stable aggregate demand”. The focus on Kazakhstan as one of the oil-producing countries is interesting for at least two reasons. Importantly, oil-exporting countries supply oil to really strong countries concentrating on manufacturing and other industries. Besides, this study provides useful insights for countries with similar economic conditions, including similar stock market development.

Cross Currency Valuation and Hedging in the Multiple Curve Framework

We generalize the results of Bielecki and Rutkowski (2015) on funding and collateralization to a multi-currency framework and link their results with those of Piterbarg (2012), Moreni and Pallavicini (2017), and Fuji et al (2010). In doing this, we provide a complete study of absence of arbitrage in a multi-currency market where, in each single monetary area, multiple interest rates coexist. We first characterize absence of arbitrage in the case without collateral. After that we study collateralization schemes in a very general situation: the cash flows of the contingent claim and those associated to the collateral agreement can be specified in any currency. We study both segregation and rehypothecation and allow for cash and risky collateral in arbitrary currency specifications. Absence of arbitrage and pricing in the presence of collateral are discussed under all possible combinations of conventions. Our work provides a reference for the analysis of wealth dynamics, we also provide valuation formulas that are a useful foundation for cross-currency curve construction techniques. Our framework provides also a solid foundation for the construction of multi-currency simulation models for the generation of exposure profiles in the context of xVA calculations.

SENI RUPA SEBAGAI MEDIA PENYADARAN

Fine Art as a form of expression of artists, certainly not like economists who need advantages in currency values. Art is not likely to be intervened by fields of pragmatic size. Then it will be so difficult to place art as part of the aesthetic element. So, in this case, we can see the strengths that are in the art itself. Art as a matter of which considered unconstitutional is certainly very paradoxical when it is part of standard rules. So when art works, it becomes part of aesthetic polarization and not being as a reading room in the future. The method used in this study is study of literature with an emphasis on the philosophy of art that gives bargaining power to change in thinking, freedom of interpretation Then The aim of study of literature is to gain an understanding that art gives its weight in thinking about renewal art with a constructive approach through aesthetic understanding. For this reason, fine arts should see forms of visualization as a form of social reality. With it, the artist must be able to create novelty as well as from ethics, aesthetics, and the philosophy of art itself. Without it, the existence of artists cannot be expected to advance the world of art, if the artists themselves lack understanding of the principles in creating fine arts. Therefore, in this paper, the author is obliged to offer solutions, as an effort to improve the quality of the concept of works and at the same time associated with the cultural movement in the public.