Dept. of Statistics, Osmania University, Hyderabad -500 007, India e-mail: nanibyrozu@gmail.com, venugopal.manneni@gmail.com
In recent years, many methods have been proposed for forecasting foreign exchange rates. An effort is made in this paper to develop fuzzy time series method and an autoregressive integrated moving average (ARIMA) models for daily exchange rate of the Indian rupees against US Dollar. The forecasting performance of the models was evaluated and compared with respect to mean absolute error, mean squared error and mean absolute percent error.
Time series, Exchange rates, Fuzzy sets and Fuzzy time series
