International Journal For Multidisciplinary Research

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A Study On Impact Of Exchange Rate Fluctuations On Indian Exports

Author(s) Gande Sri Sai Vaibhav
Country India
Abstract The exports of a nation are advantageous to its growth as exports help expand and create a global market for locally produced goods, contributes towards the growth of the Gross Domestic Product (GDP), assists a country earn foreign exchange reserves which could potentially be used to import necessary goods and services to the nation. One of the major ways of promoting exports is to devalue the home currency thereby making the exports cheaper for the potential importers allowing them to import a larger volume of goods from the home country i.e. a cheaper domestic currency increases the total volume of exports. This study takes into account Annual Exchange Rates and exports of different basket of commodities namely Chemical Products, Mineral Products, Precious Metals, Metals & Machines and estimates the existence of correlation between the two variables and estimate the impact of the independent variable (Annual Exchange rates) on the dependent variable (Basket of goods Exported). The correlation between the Annual Exchange rates and Chemical Products and Machines is positive and has a higher regression, the correlation value for Metals is positive. However, the regression is low and the significant value for Mineral Products and Precious metals is greater than 0.05 hence the correlation and regression will not be accepted.
Field Sociology > Economics
Published In Volume 6, Issue 3, May-June 2024
Published On 2024-05-18
Cite This A Study On Impact Of Exchange Rate Fluctuations On Indian Exports - Gande Sri Sai Vaibhav - IJFMR Volume 6, Issue 3, May-June 2024. DOI 10.36948/ijfmr.2024.v06i03.20546
DOI https://doi.org/10.36948/ijfmr.2024.v06i03.20546
Short DOI https://doi.org/gtvtxp
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