The Relation between the Exchange Rate of Thai Baht to the United States Dollar and Crude Oil Prices by Newton’s Divided Difference Formula

Abstract

Exchange rate of Thai Baht to the United States Dollar is significant to the
economy of the country because various kinds of goods must be imported from foreign
countries and paid for using US Dollars. In this study, the data sets were the exchange rate
of Thai Baht to the United States Dollar and monthly Dubai crude oil prices between
March 2015 and March 2016. The main objective of this research was to find the relation
equation between exchange rate of Thai Baht to the United States Dollar and crude oil
price by using the Newton’s divided difference formula. This equation that forecasts
exchange rates of Thai Baht to the United States Dollar will be completed at the end of
2016.