This is something interesting research I was doing whilst comparing the Indian Stock Markets movement and USD/INR movements.. I thought of sharing it with you guys may be you all may have more to say on this..
http://fxmarketanalysis.wordpress.com/2009/11/26/the-must-know-truth-about-stocks-and-the-usd-2/
http://www.igidr.ac.in/~money/mfc_5/basabi.pdf
http://fxmarketanalysis.wordpress.com/2009/11/26/the-must-know-truth-about-stocks-and-the-usd-2/
http://www.igidr.ac.in/~money/mfc_5/basabi.pdf