No abstract

This paper examined the Effectiveness of the intervention of the central bank and macroeconomic indicators with the exchange rates among BRICS countries. We found that foreign exchange intervention in Russia, India and China can reduce exchange rate volatility; thereby, they may be presumed effective in reducing the exchange rate volatility. Interestingly, the intervention by the central bank of Brazil was found to be insignificant, while the intervention from South Africa's central bank was found to increase exchange rate volatility. Based on these results, we conclude that the intervention of the central banks in Brazil and South Africa is ineffective in controlling volatility. The empirical results show an asymmetry in central bank intervention and the presence of Purchasing Power Parity theory in BRICS nations. More than that, the study found that the central bank fears appreciation rather than depreciation. JEL Code: E58, F31.

The purpose of the study is to empirically analyze the influence of the macroeconomic indicators on India’s stock market performance. The macroeconomic variables considered are inflation, interest rate, money supply, industrial production, andexchange rates in India. The study covers the period from April 2005 to April 2021. The ADF test has been employed to explore the stationarity of the variables, and the ARDL methodology has been administered to unearth the association between the macroeconomic variables and stock market return. The study found that industrial production, interest rate, and exchange rate have long term negative relationship with stock return. More specifically, the exchange rate has a significant impact on the stock market performance. At the same time, inflation exhibits a negative short-term relationship with the stock market return.Though money supply has a positive relationship, the magnitude is insignificant.

The purpose of the study is to empirically analyze the influence of the macroeconomic indicators onIndia's stock market performance. The macroeconomic variables considered are inflation, interest rate, money supply,industrial production, and exchange rates in India. The study covers the period from April 2005 to April 2021. The ADFtest has been employed to explore the stationarity of the variables, and the ARDL methodology has been administeredto unearth the association between the macroeconomic variables and stock market return. The study found thatindustrial production, interest rate, and exchange rate have long term negative relationship with stock return. Morespecifically, the exchange rate has a significant impact on the stock market performance. At the same time, inflationexhibits a negative short-term relationship with the stock market return. Though money supply has a positiverelationship, the magnitude is insignificant.