Title	Can offshore exchange rate predict future spot exchange?: Evidence from USDTHB Exchange Rate
Author	Sirapak Likitsajjakul
Imprint	2017
Descript	36 leaves: tables

USDTHB swap price has been separated into onshore and offshore. The offshore USDTHB swap price is used in USDTHB swap transaction between two counterparties outside Thailand, meanwhile; onshore USDTHB swap price is the transaction between two counterparties inside Thailand. This paper used uncovered interest-rate parity (UIP) to study the relationship of movement of USDTHB spot price and the difference of USDTHB swap offshore and onshore price. The paper found that under normal market conditions the difference between USDTHB swap offshore and onshore price can enhance the predicting power of future USDTHB spot price. Furthermore, the study also found that uncovered interest-rate parity (UIP) in USDTHB is more efficient as time passed by due to the lessen in the restriction of capital control policy by Bank of Thailand (BOT)

LOCATION	CALL#	STATUS
Chula Business School Library : Special Project	58830050	LIB USE ONLY