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Relationship Between Exchange Rate In Turkey And Europe Brent Petrol Spot Fob Price

Energy is an indispensable element for the continuity of daily life. Oil, natural gas, sun, water, among many options, the world's most consumed energy source is oil. The fact that the reserve currency is dollar in international markets and the oil prices are calculated in this currency constitutes a mutual interaction. The aim of this study is to examine the relationship between exchange rate and oil prices. For this purpose, time series analysis was performed by using monthly data for European Brent Oil Spot FOB Price and exchange rate (01. 2005 - 10. 2018). Research findings showed that the series of oil prices and exchange rate series were in interaction.

exchange rate, oil, oil prices, international money systems


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