Machine Learning Algorithmic Study of the Naira Exchange Rate



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Submitted Jan 22, 2020
Published Feb 17, 2020
10.24018/ejeng.2020.5.2.1739

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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.

Keywords: Exchange Rate Machine Learning Recurrent Neural Network Time Series Forecast

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