Question

Which forecasting techniques tries to find reoccurring patterns using historical data to predict future currency value??

Which forecasting techniques tries to find reoccurring patterns using historical data to predict future currency value??

0 0
Add a comment Improve this question Transcribed image text
Answer #1

The time series model of forecasting the future value of the currency is used to predict the future value of the currency using the historical data. It is based on the idea that the historical behavior and recurring price patterns can be used to predict future price of the currency value. The trend of the behaviour on the recurring events is studied and analysis is made as to how and when the price fluctuates.

Suppose, a particular country witnesses a devaluation in their currency whenever they try to impose a particular trade bill. Now there are elections in the country and it is expected that a particular political party favouring the same trade bill will come to power in the country. Based on this trend it can be predicted that the currency value will devaluate.

Add a comment
Know the answer?
Add Answer to:
Which forecasting techniques tries to find reoccurring patterns using historical data to predict future currency value??
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT