Exploring oil price – exchange rate nexus for Nigeria

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  • Hassan Suleiman
    Abertay University
  • Zahid Muhammad
    Abertay University
  • Reza Kouhy
    Abertay University
This paper investigates the oil price – exchange rate nexus for Nigeria during
the period 2007-2010 using daily data. The generalised autoregressive
conditional heteroscedasticity (GARCH) and exponential GARCH (EGARCH)
models are employed to examine the impact of oil price changes on the
nominal exchange rate .The outcome of this research indicates that a rise in
oil prices leads to a depreciation of the Nigerian Naira vis-à-vis the US dollar
over the study period.
Original languageEnglish
Pages (from-to)383-395
JournalOPEC Energy Review
Volume36
Issue number4
DOIs
Publication statusPublished - 3 Dec 2012
Externally publishedYes
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