مجلة الدراسات المالية والمحاسبية والإدارية
Volume 6, Numéro 3, Pages 613-630
2019-12-30

The Impact Of Exchange Rate Fluctuations On The Performance Of The Emerging Islamic Stock Indices For The Period (2010-2019)



Authors : Besseba Abdelkadir . Benayad Mohamed Samir . Redif Mostapha .

Abstract

The aim of this article is to define whether the exchange rate volatilities affect the Islamic stock returns focusing on the emerging markets, by using a GARCH model via daily data of five countries. The results show that the return of Islamic stock indices has a negative and significant relation with exchange rate risk exposure in all cases, which can be explained by the decrease of the local currency, can result to losses in the Islamic stock market, therefore decline in returns.

Keywords

fluctuations, exchange, indices, Islamic, returns.

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