Browsing by Subject "Exchange rate risk"

Now showing 1 - 4 of 4

Open Access
Currency derivatives and their applications in Turkey
(1997) Nazlı, A. Yekta
As a result of increased volatility in freely floating exchange rates, corporations and individuals were faced with currency risks after the 1970s. In order to manage these risks, new financial instruments -called derivatives- started to be used worldwide. They are currently used in a limited manner in Turkey. The main purpose of this thesis is to present the applications of over-the-counter currency derivatives in Turkey. Throughout the thesis, the reasons for lagging behind in the use of derivative instruments will be presented. Finally, policy recommendations will be made for the development of efficient currency derivatives markets.
Open Access
Exchange rate risk and interest rate: a case study for Turkey
(Springer New York LLC, 2003) Berument, Hakan; Günay, A.
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.
Open Access
Exchange rate risk and interest rate: a case study for Turkey
(2001) Günay, Aslı
This thesis 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 1986:12 to 2000:01.
Open Access
Impact of exchange rate fluctuations and political risk on the risk premiums reflected in the cross-sections of individual eqity returns
(1996) Yılmaz, Özer
The impact of exchange rate fluctuations and political risk on the risk premiums of individual equity returns trading in Istanbul Stock Exchange will be analyzed empirically. Turkey as an emerging market faced considerable monetary and political turbulence in the past decade. Variables from the currency and sovereign debt markets will be the proxies for exchange rate risk and political risks, respectively. Evidence of the risk premiums as a result of the exposure to the equity markets show valuable inferences although statistically significant conclusions are not the majority. These results have many implications for the corporate and portfolio management. This study also provides tools and data that can be utilized by the emerging market researchers.