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Financial Innovation

Table 2 Descriptive statistics of BTC, G7 and BRICS exchange rate returns

From: The linkage between Bitcoin and foreign exchanges in developed and emerging markets

 

Panel A

BTC

CAD

EUR

GBP

JPY

Mean

0.0015\(^\dag\)

− 7.4E−5

− 7.7E−5

− 8.6E−5

−0.0001

Std. dev.

0.0418

0.0039

0.0041

0.0047

0.0046

Minimum

\(-\)0.4647

\(-\)0.0209

\(-\)0.0257

\(-\)0.0638

\(-\)0.0314

Maximum

0.3575

0.0197

0.0302

0.0287

0.0395

Skewness

\(-\)0.5006

\(-\)0.0541

0.0188

\(-\)0.8988

0.2669

Kurtosis

13.742

5.9798

7.5645

17.788

11.420

J-B stat.

16528*

1261.0*

2957.0*

31513*

10107*

 

Panel B

BRL

RUB

INR

CNH

ZAR

Mean

\(-\)0.0003

\(-\)0.0002

\(-\)0.0001\(^\dag\)

\(-\)3.5E-5

\(-\)0.0002

Std. dev.

0.0088

0.0164

0.0034

0.0022

0.0083

Minimum

\(-\)0.0712

\(-\)0.4610

\(-\)0.0373

\(-\)0.0273

\(-\)0.0495

Maximum

0.0592

0.4276

0.0336

0.0147

0.0508

Skewness

\(-\)0.0843

\(-\)1.8763

\(-\)0.6888

\(-\)0.3729

\(-\)0.2801

Kurtosis

7.1953

335.07

17.990

15.842

5.7631

J-B stat.

2502.0*

1.56E7*

32181*

23498*

1128.0*

  1. This table reports the descriptive statistics of the exchange rate returns
  2. \(\dag\) Mean is statistically not different from zero at the 5% significance level
  3. * Normality is rejected at the 5% significance level
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