The Empirical Study of the Efficiency of the Impact of Macroeconomic Variables on National Currency

Oksana A. Karpenko (), Daria P. Karpova (), Elena M. Grigorieva (), Elena V. Savenkova () and Andrey V. Guirinskiy ()
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Oksana A. Karpenko: Peoples Friendship University of Russia
Daria P. Karpova: Peoples Friendship University of Russia
Elena M. Grigorieva: Peoples Friendship University of Russia
Elena V. Savenkova: Peoples Friendship University of Russia
Andrey V. Guirinskiy: Peoples Friendship University of Russia

A chapter in Efficiency in Business and Economics, 2018, pp 81-87 from Springer

Abstract: Abstract This paper studies the efficiency of the impact of oil price, key interest rate and inflation on the exchange rates in the Russian Federation. The authors researched the effect of oil prices and other economic variables on the currency rate of dollar to ruble. The regression model has accurately shown this interrelation. The impact of macroeconomic variables and close interrelation between the exchange rate of dollar to ruble and oil prices is revealed. Oil price is a dominating factor in a exchange rate mechanism in Russia. When world oil prices are stabilized and sanctions are cancelled, currency fluctuations and uncertainty will be minimized. The monetary policy of Russian Central bank is to become less rigid, but focused on decrease of the inflation rate and on stabilization of national currency rate.

Keywords: Impact on national currency; Macroeconomic variables; Exchange rate; Oil prices; Inflation (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-319-68285-3_7

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DOI: 10.1007/978-3-319-68285-3_7

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