Time Series Analysis Of Foreign Exchange Rate Of Nigerian Naira To Us Dollars
ABSTRACT
This research aims at estimating an
appropriate time series model for forecasting the Naira to US dollar exchange
rate. The data for this research which was gotten from the statistical bulletin
is a monthly data of exchange rate covering the period of 2000-2014. The
Box-Jenkins approach for modelling time series data which involves model
identification, estimation diagnosis and forecast was adopted . 4 ARIMA (1,1,1)
was estimated and diagnosed to be a good model as there was no significant cut
of at any point in both the ACF and PACF of the residua1. The study shows an
upward movement of the exchange rate which symbolizes a depreciation of the
Nigeria currency compared to that of the US dollar. Finally, the model was used
to make future forecast.
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UMEH, E (2022). Time Series Analysis Of Foreign Exchange Rate Of Nigerian Naira To Us Dollars. Repository.mouau.edu.ng: Retrieved Apr 20, 2024, from https://repository.mouau.edu.ng/work/view/time-series-analysis-of-foreign-exchange-rate-of-nigerian-naira-to-us-dollars-7-2
EBERE, UMEH. "Time Series Analysis Of Foreign Exchange Rate Of Nigerian Naira To Us Dollars" Repository.mouau.edu.ng. Repository.mouau.edu.ng, 05 Dec. 2022, https://repository.mouau.edu.ng/work/view/time-series-analysis-of-foreign-exchange-rate-of-nigerian-naira-to-us-dollars-7-2. Accessed 20 Apr. 2024.
EBERE, UMEH. "Time Series Analysis Of Foreign Exchange Rate Of Nigerian Naira To Us Dollars". Repository.mouau.edu.ng, Repository.mouau.edu.ng, 05 Dec. 2022. Web. 20 Apr. 2024. < https://repository.mouau.edu.ng/work/view/time-series-analysis-of-foreign-exchange-rate-of-nigerian-naira-to-us-dollars-7-2 >.
EBERE, UMEH. "Time Series Analysis Of Foreign Exchange Rate Of Nigerian Naira To Us Dollars" Repository.mouau.edu.ng (2022). Accessed 20 Apr. 2024. https://repository.mouau.edu.ng/work/view/time-series-analysis-of-foreign-exchange-rate-of-nigerian-naira-to-us-dollars-7-2