There is a paucity of empirical studies directly addressing oil resource abundance, exchange rate and economic growth in developing countries. The few existing studies are resource abundance do not consider exchange rate, oil resources and economic growth. Therefore, it is necessary to revisit the relationship that exists among these macroeconomic variables in developing countries where exchange rate regimes and policy frameworks are not just unstable but always tilted in favour of the developed economies. For this purpose, this study utilised panel data set obtained from 1980 Q1 to 2012 Q4 for resource abundant countries and fixed series representing the macroeconomic variables of interest. The study used both fixed and random effects models to examine the nexus that exists among oil resource abundance, exchange rate and economic growth. The study focused on panel data based on empirical findings from selected resource abundant countries. This study reveals a statistically insignificant relationship between exchange rate as a macroeconomic variable and economic growth in the selected countries as positive and negative at the disaggregated level. It further reveals that oil resource has a strong positive effect on economic growth and exchange rate in oil resource abundant countries. The study also established the indirect effect of oil resource on economic growth and foreign exchange variation. Therefore, it is recommended that policies aimed at foreign reserves accumulation in resource abundant countries should be considered as a means of guiding exchange rate to promote economic growth in the countries. To determine the role of exchange rate and oil resources on economic growth, the relationship should be examined using an indirect method of analysis, needs to be based on indirect effect of oil resource on exchange rate and economic growth.