2024-04-23 Bahraini Dinar News
2024-04-22
Summary of Last Month
- 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
The exchange rates over the given timespan show a general trend of slight volatility, meaning there are a series of small ups and downs. Starting from 3.64275, the exchange rate seems to fluctuate in a narrow range around 3.63 and 3.64. However, it is important to note that there are no dramatic increases or decreases over the whole period shown, and it ends quite close to where it began, at 3.63426. Therefore, overall, the exchange rates can be said to remain fairly stable during this period.
Identifying Seasonality or Recurring Patterns
From an initial high-level review of the data, it seems to recur a cyclical pattern. Typically, this can be a rise and fall pattern which repeats after a specific time period. In this data set, such patterns aren't very obvious and may be challenging to identify due to the high-level fluctuations in the data. The potential influences behind these recurring fluctuations could be complex and need intensive computation approach to identify. I recommend using advanced time series analysis, such as ARIMA model, to explore the seasonality comprehensively.
Noting Outliers
There are small fluctuations in exchange rates throughout the period, but no substantial outliers or extreme values are observed directly from the list. However, exhaustive scan using statistical tools to detect outliers may produce different conclusion. For example, any rate values outside of the 3 standard deviations from the mean could be considered as an outlier.
Note: External factors like market opening/closing hours, weekends/holidays, or the release of key financial news and reports can significantly affect exchange rates, but these factors aren't considered in this analysis as requested.
