Econometric Analysis of the Effect of Energy Prices on Exchange Rates During War Period

Petroleum and natural gas, which are among the most used energy sources in world, have a significant impact on financial markets macroeconomic indicators as they raw materials many fields. For this reason, Russia, Turkey, Brazil, India, importers developing countries, may be affected positively or negatively by changes prices. The main purpose of research is to investigate relationship between exchange rates Brent oil, crude oil (WTI), US dollar index, Russian ruble. In study, weekly data February 6, 2022, December 25, 2022 were examined. A vector autoregressive model (VAR) was examine variables included analysis, direction determined Granger causality test. According results VAR model, WTI price has effect USD/RUB rate, but rate does not On other hand, test confirm findings analysis.