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.
UMEH, E (2022). Time Series Analysis Of Foreign Exchange Rate Of Nigerian Naira To Us Dollars. Repository.mouau.edu.ng: Retrieved Mar 21, 2023, 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 21 Mar. 2023.
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. 21 Mar. 2023. < 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 21 Mar. 2023. https://repository.mouau.edu.ng/work/view/time-series-analysis-of-foreign-exchange-rate-of-nigerian-naira-to-us-dollars-7-2