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RBA Glossary definition for exchange rates

exchange rates – The price of one currency expressed in terms of another currency. Any exchange rate can be quoted two ways, e.g. Australian dollars per US dollar (USD/AUD) or US dollars per Australian dollar (AUD/USD). The convention for the Australian dollar is that it is quoted as the foreign currency price of the Australian dollar. This is sometimes referred to as the 'Indirect' method of quoting.

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Risk Premia, Market Efficiency and the Exchange Rate: Some Evidence Since the Float

1 May 1986 RDP 8603
Warren J. Tease
Research Discussion Papers contain the results of economic research within the Reserve Bank
https://www.rba.gov.au/publications/rdp/1986/8603.html

Risk Premia, Market Efficiency and the Exchange Rate: Some Evidence Since the Float

1 May 1986 RDP 8603
Warren J. Tease
Research Discussion Paper – RDP 8603 Risk Premia, Market Efficiency and the Exchange Rate: Some Evidence Since the Float.
https://www.rba.gov.au/publications/rdp/1986/8603/

Data Construction Appendix

1 May 1986 RDP 8603
Warren J. Tease
RDP 8603: Risk Premia, Market Efficiency and the Exchange Rate: Some Evidence Since the Float Data Construction Appendix. ... Download the Paper 662. KB. Data were obtained from the Commonwealth Bank's daily exchange rate release.
https://www.rba.gov.au/publications/rdp/1986/8603/data-construction-appendix.html

Introduction

1 May 1986 RDP 8603
Warren J. Tease
RDP 8603: Risk Premia, Market Efficiency and the Exchange Rate: Some Evidence Since the Float 1. ... The earlier Australian studies failed to reject the speculative efficiency hypothesis on the ground that the forward rate was an unbiased predictor of
https://www.rba.gov.au/publications/rdp/1986/8603/introduction.html

Conclusion

1 May 1986 RDP 8603
Warren J. Tease
RDP 8603: Risk Premia, Market Efficiency and the Exchange Rate: Some Evidence Since the Float 5. ... Hence, readily available information can be used to improve the forecast of the future spot exchange rate that Is provided by the current forward rate.
https://www.rba.gov.au/publications/rdp/1986/8603/conclusion.html

Bibiliography

1 May 1986 RDP 8603
Warren J. Tease
Fama, E. (1984), “Forward and Spot Exchange Rates”, Journal of Monetary Economics, Vol. ... Hakkio, C.S. (1981), “Expectations and the Forward Exchange Rate”, International Economic Review Vol.
https://www.rba.gov.au/publications/rdp/1986/8603/bibiliography.html

Econometric Methodology

1 May 1986 RDP 8603
Warren J. Tease
RDP 8603: Risk Premia, Market Efficiency and the Exchange Rate: Some Evidence Since the Float 3. ... That is, data on spot rates and 15-day, 30-day and 90-day forward rates are sampled weekly.
https://www.rba.gov.au/publications/rdp/1986/8603/econometric-methodology.html

Data and Results

1 May 1986 RDP 8603
Warren J. Tease
RDP 8603: Risk Premia, Market Efficiency and the Exchange Rate: Some Evidence Since the Float 4. ... Download the Paper 662. KB. Data on US$/$A spot and forward rates were obtained from the Daily Exchange Rate release of the Commonwealth Bank of Australia
https://www.rba.gov.au/publications/rdp/1986/8603/data-and-results.html

Joint Tests of Risk Neutrality and Market Efficiency

1 May 1986 RDP 8603
Warren J. Tease
RDP 8603: Risk Premia, Market Efficiency and the Exchange Rate: Some Evidence Since the Float 2. ... The spot holding period yield represents the return to pure spot exchange rate speculation (i.e., abstracting from interest received on any financial
https://www.rba.gov.au/publications/rdp/1986/8603/joint-tests-of-risk-neutrality-and-market-efficiency.html