Do Oil Prices Depend on the Value of US Dollar?
Do Oil Prices Depend on the Value of US Dollar?

Summary/Abstract: This paper deals with oil prices particularly OPEC´s and their relation on the value of US dollar, and draws some conclusions about their correlation. In this paper were used annual figures for the main world currencies and oil prices, obtained from many sources below specified. International commodity prices are mostly expressed in dollars, especially oil prices, for example, in the IMF International Financial Statistics, or in terms of indices based on dollar prices. Such, oil prices are obviously affected by inflation as well as real developments, and also by the value of the US dollar exchange rate. There is a definite link between monetary policies, exchange rates and other factors and oil prices, and this is the subject which is analyzed in this paper.

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