Mapping the landscape of exchange rate forecasting: a bibliometric study of the last three decades (1991-2022)

Purpose The present paper aims to conduct a comprehensive scientific mapping of exchange rate forecasting, highlighting trends, developments, and methodological changes. This will provide research scholars, researchers, and policymakers valuable insights to facilitate predictions. Design/methodology/approach The researchers performed a bibliometric analysis of exchange rate forecasting using a scientific search method on the Scopus database from 1991 to 2022. They applied a web interface program called Biblioshiny, part of the Bibliometric package built in R by Aria and Cuccurullo (2017). VOSviewer was used to identify the most influential journals, authors, countries, articles, citations, and co-citations from 1,602 documents. Findings The conceptual and intellectual framework of the papers under review provided an in-depth and comprehensive analysis of the domain. The research outcomes provided essential information on the subject matter, highlighting the need for further investigation. The study's findings demonstrate the evolution of the theory of forecasting exchange rates reflecting continuous developments in the methodologies applied to forecast the exchange rates. Research limitations/implicationsThe scientific mapping of the present study's bibliometric analysis is limited to the Scopus database because of its comprehensive coverage of high-quality journals and predefined structures compatible with Bibliometrix software. Practical implicationsThe study provides considerable insight into forecasting exchange rates and their interlinkages. By outlining the social and intellectual structure of the field, it directs upcoming scholars about the relevant topics, contexts and potential collaborations emerging in this field. The study also reveals the critical concerns in the area and leads to potential research opportunities. Social implications The study sheds light on emerging trends and approaches to forecasting exchange rates and will provide valuable information and insights to policymakers, economists, investors and decision-makers in the financial sector. It will contribute to prioritising research in overlooked areas and support the formulation of effective policies. Originality/value This study contributes significantly by bringing together disparate literature on exchange rate forecasting, highlighting important journals, authors and documents, and examining the recent studies on the foreign exchange rate.