Forex rate fluctuation and profitability among money changers in Panabo City

Abstract

This study examined the relationship between Forex rate fluctuations, particularly in terms of the inflation rate, and the profitability of money changers in Panabo City. The findings revealed that Forex rate fluctuations occur at a moderate level, with an overall mean of 3.37, while the level of profitability among money changers is very high, with an overall mean of 4.34. The computed r-value of -0.088, with a P-value of -6.35, exceeded the 2.26 level of significance, leading to the non-rejection of the null hypothesis. This indicates that there is no significant relationship between Forex rate fluctuations and the profitability of money changers in Panabo City. Based on these findings, recommendations are provided to help money changers maintain and improve their profitability despite fluctuating exchange rates.