Unforeseen BHD Exchange Rate Fluctuations Witnessed Over 24 Hours Period
2024-05-08
Summary of Yesterday
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
1. The Overall Trend of the Exchange Rates
Looking into the data given, the overall trend of the exchange rate (BHD) from the timestamps '2024-05-08 00:00:02' to '2024-05-08 23:55:02' shows minor fluctuations with the rate varying from as low as around 3.640 to as high as approximately 3.652. These fluctuations indicate that the BHD exchange rate did not maintain a consistent behavior within the period shown. The rate experienced both increases and decreases over time, with no definitive pattern discernable signifying a general increase or decrease.
2. Seasonality or Recurring Patterns in the Exchange Rates
As the dataset provided covers only a single day's worth of exchange rate data, it is challenging to identify clear patterns of seasonality or recurring behaviors. A single day's data is too brief to conclude or highlight any weekly, monthly or annual seasonal trends because these would require a longer time series dataset. However, certain regularities within the one-day period may potentially point towards intra-day tendencies, noting that the highest rates often occur around 6:30 am, noon, and around 7:00pm. It can be interpreted that during these hours, the BHD rate tends to increase compared to other hours in the same day. But, this pattern should be validated using a larger and more prolonged time series dataset to get reliable results.
3. Outliers in the Exchange Rates
Regarding outliers in the given dataset, there is no significant indication of the presence of vastly deviating rates. The BHD rate, as stated earlier, fluctuates within a narrow range throughout the available period. This suggests that the market conditions were relatively stable, and drastic changes or extreme values (outliers) were not observed. Nevertheless, it is essential to remember that the absence of apparent outliers in this dataset does not eliminate the potential for such occurrences in different periods or under varied market conditions.