Exchange rate risk and interest rate: a case study for Turkey

Date

2003

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Abstract

This paper examines the effect of exchange rate risk on interest rates within the uncovered interest rate parity condition for Turkey. When the interest rate is measured with the Treasury auction interest rate and the exchange rate risk is measured with the conditional variance of the exchange rate, then we found that there is a positive relation between the exchange rate risk and interest rate with the data from December 1986 to January 2001.

Source Title

Open Economies Review

Publisher

Springer New York LLC

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Published Version (Please cite this version)

Language

English