This study investigated the impact of oil price shocks on the real exchange rate covering the last oil shocks from 2003 to 2009 in 12 oil exporting countries, namely Algeria, Bahrain, Egypt, Indonesia, Kuwait, Nigeria, Oman, Qatar, Saudi Arabia, Sudan, United Arab Emirates, and Venezuela. In...

Undoubtedly, oil prices play a crucial role in the macroeconomic performances of oil-exporting developing countries. In this regard, the exchange rate is one of the key macroeconomic indicators worthy of investigation. Existing literature shows that world oil prices play an important role in the...