%V 245
%I Elsevier
%P 423 - 436
%T Scaling in currency exchange
%J Physica A: Statistical Mechanics and its Applications
%R 10.1016/S0378-4371(97)00316-6
%N 3?4
%K PACS: 02.50.-r; 87.10.+e
%A Stefano Galluccio
%A Guido Caldarelli
%A Matteo Marsili
%A Yi-Cheng Zhang
%D 1997
%L eprints1176
%X We study the scaling behavior in currency exchange rates. Our results suggest that they satisfy scaling with an exponent close to 0.5, but that it differs qualitatively from that of a simple random walk. Indeed price variations cannot be considered as independent variables and subtle correlations are present. Furthermore, we introduce a novel statistical analysis for economic data which makes the physical properties of a signal more evident and eliminates the systematic effects of time periodicity.