2024-05-16 Bahamian Dollar News
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2024-05-15
Summary of Yesterday
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
After analyzing the dataset, here's what we have noted:
1. Overall Trend of Exchange Rates
From the dataset, we can see that the BSD exchange rate is fluctuating but leaning towards a slight downward trend from 1.36727 to 1.36933 within the given timestamps. A specific examination of the rate shows that it reached its highest point at 1.36976 and its lowest at 1.36 during this period. It should be noted that these fluctuations do not signify any significant economic shifts as the changes are relatively small.
2. Seasonality and Recurring Patterns in Exchange Rates
At first glance, it is notable that the data does not demonstrate a clear and recurring pattern within the given timestamps. The exchange rate appears to be influenced by a myriad of factors causing frequent up and down fluctuations. Seasonality isn’t easily noticeable from the data since it covers a relatively small time frame - less than a day. A longer-term dataset would be necessary to identify possible seasonal trends such as monthly or yearly trends.
3. Outliers and Significant Changes in Exchange Rates
The dataset contains minor spikes and troughs, which can be considered normal variations rather than actual outliers. The exchange rate peaked at 1.36976 and fell to its lowest at 1.36 which are regular in a fluctuating market. These variations do not seem to display any patterns that could denote significant changes or outliers based on the trend or seasonality.
In conclusion, the BSD exchange rate demonstrated variability within a certain range under normal market conditions. Its slight decrease in the day studied suggests different factors are continuously affecting the rate, stressing the importance of real-time monitoring for those involved in BSD currency trading.
!["BSD Exchange Rates Showcase Significant Fluctuations Amid Market Uncertainties"](http://currencymart.net/images/news/bahamian-dollar/2024-05-16/img-DIJB7XOdcLEwIShBJwmCxGxc.webp)