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The Evaluation of the USD Currency and the Oil Prices: A Var Analysis
2012
EUROPEAN RESEARCH STUDIES JOURNAL
Dollar devaluation creates a huge problem in the world oil industry, leading to a vast decrease in the revenues of the oil producers, though the local oil producers use the local currencies to operate and the oil price is evaluated in dollars. The depreciation of the US dollar reduces the effect of the high prices in oil, making it rather cheap for all the countries and especially for the Eurozone area. The record high exchange rate of the Euro vis-à-vis dollar followed by a subsequent high of
doi:10.35808/ersj/358
fatcat:jk4vip63gbcdto24kwh5behpbq