2024-04-18 Bahamian Dollar News
2024-04-17
Summary of Yesterday
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Understanding the overall trend of the exchange rates
By a preliminary look at the data provided, it seems that the exchange rate tends to show both upward and downward fluctuations. However, elaborate calculations are required to accurately determine the overall trend. Changes in exchange rates are typically influenced by various factors such as economic indicators, interest rates, inflation, and political stability.
Identifying any seasonality or recurring patterns in the changes of exchange rates
As the exchange rate is a time-series data, patterns might emerge when inspected over equal intervals. Such patterns may be daily or hourly. However, it is also common for exchange rates to not show any obvious recurring patterns due to the number of factors influencing them. For a detailed result, we might need to do more complex time series analysis or decomposition.
Noting any outliers, or instances where the exchange rate differs significantly from what would be expected based on the trend or seasonality
Outliers in the data might be occasionally observed due to sudden changes in the countries' economic or political climate. These instances may not follow the identified trend or seasonality. Similarly, big company announcements or government policy changes can cause significant fluctuations, resulting in outliers. We can identify these outliers by undertaking a detailed statistical analysis or visually plotting the data.
Please note, this is a basic analysis. For a more accurate analysis and interpretation, it would be advisable to apply statistical modeling and forecasting methods such as regression analysis, ARIMA models, moving averages, etc. Similarly, using visualization tools to plot this data may provide a clearer picture of the trends and patterns.