Noman, Abdullah M.; Ahmed, Minhaz U. - In: Afro-Asian Journal of Finance and Accounting 1 (2009) 4, pp. 295-305
This paper examines the weak form efficiency of the foreign exchange markets in seven SAARC countries using monthly return series for each of these markets over a period of 21 years (1985-2005). We applied a battery of unit root tests and variance ratio tests (individual and multiple) to see...