The linkages between oil prices and exchange rates have been researched considerably. However, studies to date typically assume symmetric responses of exchange rates to changes in crude oil prices and use a symmetric linear regression model when tackling the topic. Therefore, the new contribution of this article is to utilize the quantile autoregressive distributed lag approach newly developed by Cho et al. (J Econom 188:281–300, 2015) and investigate whether or not evidence of locational asymmetries exists between oil prices and the Indonesian rupiah (IDR). We detect that the relationship between oil prices and IDR is heterogeneous across different quantiles, thereby providing evidence of locational asymmetries in both the long- and short-run. We believe that this discovery has profound implications on empirical modeling of the oil price–exchange rate nexus and policy analysis.

石油价格和汇率之间的联系已得到大量研究。然而，迄今为止的研究通常假设汇率对原油价格变化具有对称性，并在解决该问题时使用对称线性回归模型。因此，本文的新贡献是利用Cho等人新开发的分位数自回归分布式滞后方法。（《经济学人》杂志188：281–300，2015年），并调查了石油价格与印尼盾（IDR）之间是否存在位置不对称的证据。我们检测到，油价和IDR之间的关系在不同分位数之间是异质的，从而提供了长期和短期位置不对称的证据。