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Volume :24 Issue : 2 1996      Add To Cart                                                                    Download

The Saudi Riyal/U.S Dollar Exchange Rate : An Empirical Examintion

Auther : Ali Diabi

The paper attempts to inquire into the issue of exchange rate determination with reference to Saudi Arabia . it departs from general exchange rate determination model which subsumes a number of competing models . the Cochrane orcutt procedure of estimation is used, and alternative parameter restrictions are imposed to test for the appropriate model specification. The empirical findings do not lend support to the assumed first degree homogeneity of exchange rate with respect to relative money supplies. They also , cast doubt on both exchange rate overshooting and ppp, even as a long phenomenon. They do however , reveal that the data on nominal exchange rate in the Saudi context approximate a pure random process.

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