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Subject: Currency valuation ×

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    Remittances as a determinant of the real exchange rate
    (2007-04) Abitria, Alwayne Cristopher H.; Torres, Angie
    Our study tries to find a relationship on workers' remittances on the real exchange rate. We performed time-series regression to examine the effects of remittances on the real exchange rate over a time horizon. We say that remittances do account for real exchange rate movements, both in the short-term and in the long-term. The increasing trend of remittances in the recent past make remittances account for greater changes in the real exchange rate in the near long-term, and more so in the short term. Government policy and trade openness remain as the strongest determinants of the movements of the real exchange rate. We find that trade openness appreciates the real exchange rate, in opposition to what has been proved in the literature.
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    Peso appreciation: what causes it? a study on Philippine exchange rate determination
    (2008-03) Taccad, Toni Lee Alexis J.; Lukban, Marie Eunice S.; Alburo, Florian
    The years 2006 and 2007 experienced peso appreciation shifting the long running depreciation trend in the Philippines. This thesis looks into factors that could have determined this phenomenon through applying the theories of exchange rate determination. It used the Ordinary Least Squares Method to verify if the factors identified by the BSP: remittances, export earnings and foreign investments, truly reflect this appreciation specifically that of REER. The study used the monthly frequencies of these variables. Three extended models are regressed to include a global exchange market factor: dollar weakening. This thesis had found out that the current appreciation can be attributed more on the global exchange rate market movements than the foreign inflows in the domestic exchange rate market.