Day of the Week Effect on Foreign Exchange Market Volatility : Evidence from Turkey

This paper assesses the day of the week effect of the daily depreciation of the Turkish lira (TL) against the US dollar (USD) and its volatility. The empirical evidence from Turkey presented here suggests that Thursdays are associated with higher and Mondays with lower depreciation rates compared to those of Wednesdays. Moreover, Mondays and Tuesdays are associated with higher volatility than Wednesdays

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Year of publication:	2018
Authors:	Berument, Hakan
Other Persons:	Coskun, Nejat (contributor) ; Sahin, Afsin (contributor)
Publisher:	[2018]: [S.l.] : SSRN
Subject:	Türkei \| Turkey \| Volatilität \| Volatility \| Kalendereffekt \| Calendar effect \| Wechselkurs \| Exchange rate \| Devisenmarkt \| Foreign exchange market
Description of contents:	Abstract [papers.ssrn.com]