چکیده (انگلیسی):

ABSTRACT: Given intense fluctuations of Iran currency value (Rial) in recent years, we decided to study the effect of
exchange rate fluctuations (USD) on stock returns of Iranian manufacturing companies. In this regard, the sample
was selected from manufacturing companies listed in Tehran Stock Exchange from which 123 companies were
selected. This study was conducted in three time intervals: no time interval, 12 weeks interval, 24 weeks interval.
Based on the results of statistical tests of exchange rate fluctuations, 34% of changes in stock price returns were
shown in the case of no time interval, 44% of changes in stock price returns were shown in the case of 12 weeks
interval and 29% of changes in stock price returns were shown in the case of 24 weeks interval.