An ARDL Approach to the Factors Influencing Exchange Rates in India

Author(s)	Dr. ASHWATH YADAV G S
Country	India
Abstract	Indian Rupee continues to gain global market impact through the currency pegging activities of Bhutan and Nepal with Indian Rupee. Presently Indian economy achieves higher GDP growth than other developing economies of the world. The expansion in the GDP helps well for a concrete external trade alongside other financial factors, for example, GDP, FDI, FII, CAD, forex hold, inflation, etc. The RBI works on capital account convertibility through numerous measures aimed at letting free movement of capital from India's current managed exchange system. Recent Chinese Yuan developments made it difficult for scholars to quickly create solutions which support developing economies. The study concentrated on investigating all macroeconomic variables that impact currency exchange while using regression analysis and ARDL approach to determine these variables in order to value exchange rate movements. The current research employs seventeen independent variables obtained through Literature review and tracks a five-year period from April 2016- March 2017 up to April 2023- March 2024. The study identifies major variables that impact exchange rate stability.
Keywords	Exchange Rate, Exchange Rate Determinants, ARDL Approach.
Published In	Volume 7, Issue 2, March-April 2025
Published On	2025-03-11

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