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