ISSN: 2349-5162

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Published in:

Volume 6 Issue 6
June-2019
eISSN: 2349-5162

Unique Identifier

JETIRCK06013

Page Number

105-117

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Title

Crude Oil and Foreign Exchange: An Empirical Study of their Relationship of BRICS Nations

ISSN

2349-5162

Cite This Article

"Crude Oil and Foreign Exchange: An Empirical Study of their Relationship of BRICS Nations", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.6, Issue 6, page no.105-117, June-2019, Available :http://www.jetir.org/papers/JETIRCK06013.pdf

Abstract

Crude oil is the most essential commodity used by different economy to bring their country in force. This examination intends to research whether the Crude oil prices promotes Foreign exchange rates against USD among the BRICS nations. There can be the utilizations of monthly crude oil prices which can have direct or indirect influence on the monthly foreign exchange rate because the pricing of crude oil is made in American dollar. This provides us with rich information to the experimental examination. The results in general shows that, in oil exporting countries, when the oil prices increase then the rate for foreign exchange appreciates. In oil import countries, when the oil prices increase then the rate for foreign exchange depreciates except that in the case of China. The research also analysis one SD shock on Crude oil to foreign exchange rate has no impact on the long run but has a positive or negative impact in short run. The study is using Unit root test, Regression, Granger Causality, and Impulse Response to analyze the impact of Crude oil on Foreign exchange for all the 5 nations (Brazil, Russia, China, India, South Africa) against USD. The monthly period of the study has been taken from 1/12/2003- 1/05/2018.

Key Words

Crude Oil, Unit root test, Regression, Granger Causality, Impulse Response

Cite This Article

"Crude Oil and Foreign Exchange: An Empirical Study of their Relationship of BRICS Nations", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 6, page no. pp105-117, June-2019, Available at : http://www.jetir.org/papers/JETIRCK06013.pdf

Publication Details

Published Paper ID: JETIRCK06013
Registration ID: 204619
Published In: Volume 6 | Issue 6 | Year June-2019
DOI (Digital Object Identifier):
Page No: 105-117
ISSN Number: 2349-5162

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Cite This Article

"Crude Oil and Foreign Exchange: An Empirical Study of their Relationship of BRICS Nations", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 6, page no. pp105-117, June-2019, Available at : http://www.jetir.org/papers/JETIRCK06013.pdf




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