Foreign exchange fluctuations have been found in the literature review to have an impact on the stock market return and the fluctuations in the stock prices. This research uses the cointegration technique to analyze the impact of USD to PKR exchange rate on the stock return market in Pakistan. The stock market return has been studied by KSE 100 Index. The results show that a relationship between the two variables exists in the short run in Pakistan.
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Maheen Maheen (2013) studied this question.
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