In this paper, we analyze BRICS countries' long-term exchange rate market efficiency. Our analysis, using multifractal detrended fluctuation analysis (MFDFA) for the 2009-2021 period, shows considerable differences in the exchange rate efficiency of BRICS countries, with South Africa the most...

This is an empirical analysis of study simultaneously focus on examining the impact of macroeconomic variables, i.e., GDP growth, GDP per capita, inflation, foreign direct investment, exports, imports, interest rates, foreign debt and foreign reserves on the exchange rate regimes, using the...