A COMPARATIVE STUDY OF EXPONENTIAL AND POLYNOMIAL MODEL FOR PREDICTION OF NAIRA TO DOLLAR EXCHANGE RATE: A MACHINE LEARNING APPROACH


This research work explores the performance of exponential and polynomial models in the prediction of naira to dollar exchange rate on yearly basis, using machine learning approach and compare their performances with each other and with other existing models. It was established that polynomial model predicts the exchange rate better than exponential model and that the polynomial model is better than the existing ones. Again, the polynomial model predicted the exchange rate of naira from 1950 to 2050 on yearly basis and established the fact that by 2050 an American dollar will be equivalent to N800. MATLAB was used for the implementation of the models.