Open AccessMachine Learning Algorithmic Study of the Naira Exchange Rate
Author(s) -
Ledisi Giok Kabari,
Marcus B. Chigoziri,
Joseph Eneotu
Publication year - 2020
Publication title -
european journal of engineering research and science
Language(s) - English
Resource type - Journals
ISSN - 2506-8016
DOI - 10.24018/ejers.2020.5.2.1739
Subject(s) - mean squared error , mean absolute error , exchange rate , statistics , mathematics , econometrics , coefficient of determination , mean absolute percentage error , computer science , machine learning , algorithm , economics , finance
In this study, we discuss various machine learning algorithms and architectures suitable for the Nigerian Naira exchange rate forecast. Our analyses were focused on the exchange rates of the British Pounds, US Dollars and the Euro against the Naira. The exchange rate data was sourced from the Central Bank of Nigeria. The performances of the algorithms were evaluated using Mean Squared Error, Root Mean Squared Error, Mean Absolute Error and the coefficient of determination (R-Squared score). Finally, we compared the performances of these algorithms in forecasting the exchange rates.