https://archive.aessweb.com/index.php/5050 Asian Economic and Social Society en-US International Journal of Publication and Social Studies 2520-4491 https://archive.aessweb.com/index.php/5050/article/view/5561 <p>This study examines the impact of budget announcements on the exchange rate dynamics of the Pakistani rupee (PKR) in relation to the US dollar (USD). In economies like Pakistan, where markets are highly sensitive to political and economic variations, a budget announcement can be a significant macroeconomic event for investors. The budget announcement essentially serves as a roadmap for future expenditure priorities for the upcoming year. Such information not only influences investors' sentiments by shaping their perceptions of future economic stability but can also cause fluctuations in the country's currency based on overall sentiments. Given the relevance of budget announcements, an event study methodology is employed to analyze the appreciation and depreciation of the Pakistani currency during the sample period of 2011–2018. The results reveal that the Pakistani rupee exhibits smooth positive and negative fluctuations around event window periods without major swings. Some short-term positive and negative changes occur around the time of the budget announcement; however, these are of modest scale. Therefore, overall, no significant impact of budget announcements on currency fluctuations has been observed in the short run. This suggests that budget announcements in the short term do not exert pressure that could cause major fluctuations in currency movements. Nonetheless, budgeting is a long-term strategy that may influence the currency in the long run, warranting attention from investors and policymakers.</p> Muzna Rahman Copyright (c) 2025 2025-09-08 2025-09-08 10 1 1 8 10.55493/5050.v10i1.5561 https://archive.aessweb.com/index.php/5050/article/view/5640 <p>This research aims to investigate the influence of social media marketing (SMM) and perceived value (PV) on purchase intention (PI), with brand loyalty (BL) as a mediating variable. Primary data were collected using questionnaires, resulting in 963 samples, including consumers of well-known fashion brands in Indonesia. The study adopts a positivist approach to test the hypotheses and research model. Before testing the relationships, a series of validity and reliability tests of the questionnaire were conducted. Validity was assessed using factor analysis, and reliability was evaluated through internal consistency with Cronbach's Alpha. The direct and indirect influences of these variables were tested using Smart-PLS, followed by testing the relationship model with structural equation modeling (SEM) via a two-step approach using AMOS to assess the model's fit with the data. The results indicate that BL and PI are not directly influenced by SMM but are affected by PV. The influence of SMM on BL and PI remains to be further investigated. This study emphasizes the importance of a product or brand's QMS and PV in enhancing BL and PI. For practitioners, the findings suggest that greater attention to PV can improve the effectiveness of marketing strategies for fashion products.</p> Dorothea Wahyu Ariani Copyright (c) 2025 2025-10-08 2025-10-08 10 1 9 26 10.55493/5050.v10i1.5640