Economics, Econometrics and Finance
4 years ago

Oil prices drive exchange rate volatility in Nigeria, impacting economy.

Oradea Journal of Business and Economics
OIL PRICE AND EXCHANGE RATE VOLATILITY IN NIGERIA
Lawson E. Igbinovia, Omorose A. Ogiemudia

Paper Summary

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The study looked at how oil prices affect the exchange rate in Nigeria over 35 years. They used different statistical methods to analyze the data and found that oil prices have a significant impact on exchange rate volatility in both the short and long term. The study concluded that oil prices have a positive influence on exchange rate volatility in the long run, but a negative influence in the short run in Nigeria.