Forecasting Foreign Exchange Rates using Neural Network
Prince Yaw Owusu Amoako, Nana Kwasi Diawuo · 2013
This paper presents the prediction of foreign exchange rate using neural network called feedforward neural network with one hidden layer of three neurons as the improved model for the forecasting. Bank-Indicative Opening rates for three years (2008 - 2010) was used in training the algorithm and the prediction made for year 2011. Statistical evaluation of the output from the implementation of the neural network model on the forecast values with the actual of Banks-Indicative Opening U.S. Dollar, Pound Sterling and Euro Rates - Selling, are presented. Some significant works done in the area of neural network were discussed .