• JIGNA SURESHKUMAR SHILU
• DR. VIKRAM GAUTAM SINGH

The dynamic linkage between exchange rate and stock prices has been subjected to extensive research for over a decade and attracted considerable attention from researchers worldwide during the Asian crisis of 1997-98. The issue is also important from the viewpoint of recent large cross-boarder movement of funds. In India the issue is also gaining importance in the liberalization era. With this background, the present study examines the causal relationship between returns in stock market and forex market in India. Using daily data, we found that causal link is generally absent though in recent years there has been strong causal influence from stock market return to forex market return. The results, however, are tentative and we need further in-depth research to identify the causes and consequences of the findings.

Stock market, Exchange rate,Foreign Exchange, BSE SENSEX, NSE NIFTY, Correlation

"A COMPARATIVE STUDY OF EXCHANGE RATE AND STOCK PRICE IN INDIA", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.6, Issue 1, page no.360-366, January-2019, Available :http://www.jetir.org/papers/JETIR1901647.pdf

"A COMPARATIVE STUDY OF EXCHANGE RATE AND STOCK PRICE IN INDIA", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 1, page no. pp360-366, January-2019, Available at : http://www.jetir.org/papers/JETIR1901647.pdf