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Scholars Journal of Physics, Mathematics and Statistics | Volume-8 | Issue-01
Short Term Modeling of the Nigerian Naira/United States Dollar Exchange Rate Using ARIMA Model
Guobadia Emwinloghosa Kenneth, Ibeakuzi Precious Onyedikachi, Uadiale Kenneth Kevin
Published: Jan. 20, 2021 |
117
90
DOI: 10.36347/sjpms.2021.v08i01.002
Pages: 8-13
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Abstract
This paper attempts to model the exchange rate between Naira and U.S Dollar using Autoregressive Moving Average Models (ARIMA). From the examined models, ARIMA (1, 0, 1) out-performed other models based on the lowest AIC, BIC and HQC values. The forecasted result suggests that Naira to Dollar exchange rate would slightly be on the increase in upcoming weeks.