2024-04-30 Bahamian Dollar News

Summary of Last Month

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  • Difference of Daily High & Low:

Statistical Measures

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Data Overview

This provided time-series dataset reflects the exchange rates (BSD) at specific points in time. Our main goal is to identify trends, patterns, and any potential outliers in the exchange rate. It's important to note that we are focusing solely on the given dataset, and not considering external factors such as market openings/closures, weekends/holidays, or the release of pivotal financial news and reports.

Overall Trend Analysis

Firstly, it is crucial to identify the overall trend of these exchange rates. By examining the given data, the general trend appears to be that of a gradual increase. Over the course of the period shown, the exchange rate steadily rose from around 1.36207 at the starting timestamp to approximately 1.36802 by the end. It's important to note, however, that while the general trajectory was upward, there were several fluctuations along the way.

Seasonality or Recurring Patterns

Next, to examine for recurring patterns or seasonality, we would typically break down the time-series data into smaller intervals (like hourly or daily) and compare them. Given the data and the goals of the analysis, no significant recurring patterns appear evident within the provided dataset. Although there are fluctuations, they seem generally irregular and don't reveal a clear cyclical pattern.

Identification of Outliers

Outlier detection in a time-series can help identify anomalies that deviate significantly from the trend or seasonality. In this case, a potential outlier to note could be the sudden spike to 1.36535 at 2024-04-29 06:40:02, followed by a gradual decrease. However, it would take a deeper statistical analysis to confirm whether these instances truly are outliers or merely high points of fluctuation within an acceptable range.


This high-level analysis has provided some insight into the data: showing a general upward trend in the exchange rate over time, with irregular fluctuations but no clear seasonal or cyclical patterns detected. Some potential outliers were noted but would need further analysis to confirm. This analysis could serve as a foundation for more complex analytics using advanced statistical methods.

024 The Bahamas Dollar (BSD) experienced a notable increase in value throughout April 29th, 2024. The data shows a steadily rewarding development during the day, marking it as an unexpected shift compared to its previously observed trends. As of the early hours of the morning, the BSD was valued at 1.36207. However, encouraging progress was soon noted as the exchange rate saw an upward trajectory, reaching a value of 1.36812 by the end of the night. While minor fluctuations were integral parts of this uptrend story, the overall pattern remained positive. What caused this remarkable growth in BSD''s value? When it comes to the currency exchange market, various international and national factors can directly influence the rates. From economic indicators such as inflation and interest rates to geopolitical events, many aspects may be responsible for the observed performance of BSD. Part of what may have contributed to this substantial increase in the BSD value is the consistently improving economic outlook in The Bahamas, signaled by the region''s recovery from COVID-19 setbacks. Economists speculated that the confidence and subsequent investment in the country could have boosted the nation''s currency. This growth is significant considering the broader economic context. Amidst ongoing global economic challenges, a strengthened BSD may indicate increased investor confidence and risk appetite. Furthermore, this may translate to improved economic conditions for the Bahamian population and increased purchasing power. Trade sectors, particularly those dealing with international transactions, may also see consequent benefits from a strong local currency. However, it is essential to approach the future with a certain degree of caution. As the financial markets are known for their volatility, changes in trends occur swiftly. What happened on April 29th, 2024, could either be the start of a new upward trend or merely an outlier in the broader downtrend. Analysts, traders, and investors alike will undoubtedly watch the BSD closely in the coming days. They''ll look for confirmation of this upward trend or any indications of a potential reversal. But for now, the financial environment on this day marked a welcoming sunrise for the BSD that saw its value rise consistently. This day would be memorable for the market participants. In the future, watch for economic updates from The Bahamas and international developments that could influence the exchange rate. Keep an eye on inflation rates, GDP growth, and the ongoing global response to the COVID-19 pandemic. These factors all play a crucial role in the exchange rate fluctuations observed in the currency market.BSD Exchange Rates See Promising Uptrend in Late April 2024

Current Middle Market Exchange Rate

For information purposes only.