IIARD International Institute of Academic Research and Development

INTERNATIONAL JOURNAL OF APPLIED SCIENCES AND MATHEMATICAL THEORY (IJASMT )

E- ISSN 2489-009X
P- ISSN 2695-1908
VOL. 9 NO. 3 2023
DOI: https://doi.org/10.56201/ijasmt.v9.no3.2023.pg74.89

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Modelling Mexican Peso to Nigerian Naira Exchange Rates Due to the two Nigerian Economic Recessions: An Intervention Analysis Approach

Amadi, Ebere Peace, Anthony Ike Wegbom and Weli Azubuike

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Abstract

Modelling the Mexican Peso to the Nigerian Naira exchange rates with the standard Box-Jenkins ARIMA model in the presence of external events might be misleading and generating forecasts from such model may be unreliable. This study posits that the exchange rate between Mexican Peso and Nigerian Naira was exclusively influenced by the economic downturn experienced in Nigeria during the years 2016 and 2020. Thus, the intervention is described as a step function.

keywords:

Mexican Peso, Naira, Exchange Rate, Modelling, Intervention Analysis

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References:

Ajao, I. O., Obafemi, O. S and Bolarinwa, I. A (2017). Modelling Dollar-Naira exchange rate
in Nigeria. Nigeria Statistical Society, Edited Conference Proceedings. 1(1):191-198.

Appiah, S.T and Adetunde, I. A (2011). Forecasting Exchange rate between the Ghana Cedi
and the US dollar using time series analysis. Current research journal of economic
theory, 3(2): 76 -83.

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