Exchange Rates Prediction via Deep Learning and Machine Learning: A Literature Survey on Currency Forecasting

Oyiwona Ajumi, Abhishek Kaushik

Abstract: The main objective of this article is to present an up-to-date review on time series forecasting techniques. This paper provides a thorough critique on how forecasting of exchange rates in the FOREX market using Machine Learning methods differ from Deep Learning methods. Empirical research on exchange rate forecasting using Deep-learning methods for emerging economies in the Middle East and Africa is almost non-existent. In any case, exchange rate forecasting is not an easy task. There is no single forecasting method that is superior for obtaining accurate exchange rate all the time and for different exchange rate. This review will provide guidance to analysts for future research in this application area.

Keywords: Forecasting, Exchange Rate, Machine Learning, Time series