NALISIS MUNDURNYA PRESIDEN MESIR HOSNI MUBARAK TERHADAP FLUKTUASI NILAI TUKAR EGYPTIAN POUND

Abstract

Like a capital market, the condition of foreign exchange market is always changed as the times goes by. It is affected by many crises events such as financial crisis, political crisis and natural disaster crisis. Sometimes those events make foreign exchange market become more integrated and sometimes it makes foreign exchange market more segmented, it depends on the influence of the event. This study will examines the change of Egypt foreign exchange market condition which caused by political crisis, especially, the effects of decline President of Egypt Hosni Mubarak towards Egyptian Pound exchange rate. There were or no influence of the effects of decline President of Egypt Hosni Mubarak towards Egyptian Pound exchange rate can see from there were or no significant difference Egyptian Pound exchange rate towards US Dollar and Euro before event date and after event date. This research is event study with hypothesis testing that using One-Sample T Test and Paired Samples T Test and One Sample Wilcoxon Test and Paired Samples Wilcoxon Test. This research that will inspect fluctuation exchange rate of Egyptian Pound towards US Dollar and exchange rate of Egyptian Pound towards Euro in January-March 2011. Period of this research is fifteen days before event date and fifteen days after event date. This study shows that the event of decline President of Egypt Hosni Mubarak has an effect on exchange rate of Egyptian Pound. The result of this study showed that there were significant differences of the exchange rate of Egyptian Pound towards US Dollar and exchange rate of Egyptian Pound towards Euro happened fifteen days before and fifteen days after the event of decline President of Egypt Hosni Mubarak.