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Statistical Analysis of Pakistani Currency Regime before and after Floatation
Keywords
currency regime, floatation, Pakistan rupee, statistical analysis
Abstract
In this paper the trends of exchange rates for the foreign currency are studied yearly for Pakistan rupee. In 2000 State bank of Pakistan officially floated the rupee. In this studies the trends of the exchange rate before floating and after floating and then checks its impact on the GDP per capita of the country. Here we consider the daily data of exchange rates of Pakistani currency from 1995 to 2009. Data was analyzed from 1995 to 2000 in the first step. In the second step data from 2001 to 2009 was analyzed with the help of statistical software. And lastly the graphs, tables and the data results were interpret and a comparison is given between the two situations of fixed and floated currency. At the end it is recommended that if one want to float currency he must keep in mind that the political condition or stable and that the economy is also stable so that the system of float can perform its functions completely.