Economic Consequences of Covid-19 Pandemic: An Analysis of Exchange Rate Behaviour

This paper examines the effect of Covid-19 on currency exchange rate behaviour by taking a sample of 37 countries over a period from 4th January 2020 to 30th April 2021. Three variables, such as daily confirmed cases, daily deaths, and the world pandemic uncertainty index (WPUI), are taken as the measure of Covid-19. By applying fixed-effect regression, the study documents that the exchange rate behaves positively to the Covid-19 outbreak, particularly to daily confirmed cases and daily deaths, which implies that the value of other currencies against the US dollar has been depreciated. However, the impact of WPUI is insignificant. On studying the time-varying impact of the pandemic, the study reveals that the Covid-19 has an asymmetric impact on exchange rate over different time frames. Further, it is observed that though daily confirmed cases and daily deaths show a uniform effect, WPUI puts an asymmetric effect on the exchange rate owing to the nature of economies.

Exchange Rate Transaction of International Trade Goods Based on Fuzzy Granulation and Deep Learning

The change of international trade goods exchange rate transaction has an impact on economic operations and economic stability. Therefore, an international trade goods exchange rate transaction based on fuzzy granulation and in-depth learning is proposed. Based on fuzzy information granulation and BP neural network, this paper analyzes the interest rate evaluation theory. For the future expectation of currency exchange rate, portfolio equilibrium determines the proportional relationship of each component in the portfolio and analyzes the impact of asset price and exchange rate change according to this relationship. Then, it points out the risk evaluation index system, calculates the risk degree of exchange rate transaction of international trade goods, and then evaluates the risk of exchange rate transaction of international trade goods. It completes the research on exchange rate transactions of international trade goods based on fuzzy granulation and in-depth learning. The experimental results show that excessive exchange rate fluctuation will bring the same proportion fluctuation to the asset price in the financial market, and the coordination between exchange rates and the coordination of exchange rate and asset price can promote the steady growth of national economy.

The Legal Consequences of Unfair Contract Terms in Consumer Loan Agreements Valorized with Foreign Currency

In recent years, the Court of Justice of the European Union has issued a number of judgments addressing the issue of consumer protection in connection with the use of unfair terms by banks in loan agreements indexed with a foreign currency exchange rate. Most of them have concerned issues of exchange rate risk and exchange rate differences between the purchase and sale rates of a given currency applied by the bank. This article analyzes the recent ruling by the Court of Justice of the European Union in the Dziubak case, which was initiated by referring questions for a preliminary ruling by a Polish court. The article’s purpose is to assess the position taken by the cjeu in this respect and its significance for consumers in Poland. Particular attention was paid to the considerations with regard to the possibility of replacing unfair provisions with general provisions and assessing the consumer’s awareness of the consequences of declaring a contract invalid. The aim is to examine the issues that were dealt with by the Court of Justice of the European Union in the Dziubak case, including – in particular – the answer to the question of whether the issues discussed by the cjeu had already been considered in its previous jurisprudence and whether it presents new, previously unknown legal consequences of the inclusion of unfair contract terms in loan agreements.

Profit bridges that disambiguate impacts of currency fluctuations from other marketing variables

We extend the normalized approach to constructing profit bridges proffered in a recent paper to examine the impact of currency exchange rate fluctuations within a multinational corporation. In doing so, we describe a profit bridge that would measure corporate performance distinct from that which would measure the performance of business units, including metrics for the impact of volume, price, variable cost, offering mix, and exchange rate changes.

Can altcoins become viable alternatives to African fiat currencies?

Purpose The paper aims to examine the asymmetric response of three major altcoins to shocks in six African fiat currencies in a time-frequency space. Design/methodology/approach Data are for the period 10th August 2015 to 2nd February 2019 at a daily frequency. The authors capture the time and frequency information in the return series of the currencies using the ensemble empirical mode decomposition. The authors implemented quantile regression and quantile-in-quantile regression on the decomposed series to test the response of altcoins to both positive and negative shocks in the fiat currencies across time to see if the altcoins are viable alternatives to African fiat currencies. Findings The outcome of the study suggests that altcoins behave differently from African fiat currencies and are viable alternative digital currencies and good hedges for African fiat currencies from the medium-term. Research limitations/implications Policymakers in Africa and across the globe can follow this paper to mitigate currency crises by adopting altcoins as alternatives to fiat currencies. Forex traders can also mitigate trade risk by using altcoins to hedge dollar/African fiat currency exchange rate risk. Originality/value The research was conducted by the authors and has not been published in any journal.

Pengaruh Average Daily Rate dan Nilai Tukar Mata Uang terhadap Revenue Per Available Room di Hotel XYZ

Revenue Per Available Room (RevPAR) at Hotel XYZ has decreased since 2017 to 2019. Hotel XYZ applied Best Average Daily Rate (ADR) to increase the income without reducing the guest satisfaction. This ADR used USD nominal, so the currency exchange rate (dollar to rupiah) will have an effect on RevPAR that should be reported by using rupiah nominal. There was a phenomenon that the increase of ADR and the currency exchange rates were not followed by the increase of RevPAR at Hotel XYZ in 2017 until 2019. The purpose of this research was to analyze the effect of Average Daily Rate (ADR) and the currency exchange rate on Revenue Per Available Room (RevPAR) at Hotel XYZ. This research was a quantitative research and used multiple linier regression analysis techniques, t-test, F test and coefficient of determination test by using SPSS version 23.0 program. In determining the sample of this study, non-probability sampling method was used. The sample used in this study is data from the last 3 years, 2017, 2018, and 2019. The result of the study showed that Average Daily Rate (X1) and the currency exchange rate (X2) had a significant effect on Revenue Per Available Room (Y) at Hotel XYZ, both partially or simultaneously.