• Bishal Ghimire
• Parvathy VK

India imports 80 per cent of its crude oil to meet its growing energy requirements. This significantly affects the economy as crude oil prices directly affect the inflation rate of India as well as the overall GDP. Crude oil prices also significantly affect the current account balance, which means that as the price of crude oil increases, the current account deficit increases simultaneously. The exchange rates are also affected by inflation and current account balance of a country. This paper is an empirical study between the impact oil prices on exchange rate of Indian rupees against US dollars. In this paper, I study the direct impact of crude oil prices on the exchange rate without taking into account the other factors and analyse whether a statistical model can be derived to accurately predict the exchange rates using the crude oil prices.

"Impact of crude oil prices on the exchange rate of Indian rupees against USD", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.5, Issue 3, page no.14-18, March-2018, Available :http://www.jetir.org/papers/JETIR1803003.pdf

"Impact of crude oil prices on the exchange rate of Indian rupees against USD", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.5, Issue 3, page no. pp14-18, March-2018, Available at : http://www.jetir.org/papers/JETIR1803003.pdf