2024-04-19 Barbados Dollar News
2024-04-18
Summary of Yesterday
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Overall Trend in Exchange Rates
An initial look at the data shows that the exchange rates for BBD have seen both rises and falls during the given period. However, it can be noted that overall, the exchange rate post a slight decreasing trend with nominal fluctuations. Starting from a value of 0.68321 at the beginning of the given period, the rates have dropped to 0.68007 at the end.
Seasonality and Recurring Patterns in Exchange Rates
Analysis of the time-series data does not evidently display any seasonal or recurring patterns in exchange rates. The fluctuations in the exchange rates do not seem to follow a specific cyclical pattern. It must be noted though that further, more intricate statistical analysis may be required to determine subtle, less-obvious patterns if any.
Outliers in the Exchange Rates
To identify significant outliers in the exchange rates, it would be essential to consider variations which are starkly deviant from the typical fluctuations observed. While subtle fluctuations are a common characteristic of exchange rates, drastic variations could be potential outliers. On a broad examination, an instance exhibiting an unusual dip in the exchange rate can be observed around 2024-04-18 20:05:03 when the exchange rate hit 0.67976, which is relatively far from the regular values witnessed within this dataset. However, understanding the precise cause of these outliers would require an external examination of conditions around this timestamp, which is not part of this analysis directive.
Considerations for Analysis
For a more cogent and comprehensive analysis, several considerations can be beneficial. These include attention to market opening and closing hours which cause high fluctuations, understanding the impact of weekends and holidays on trading volumes and exchange rates, and being aware of key financial news and reports that can drastically affect currency rates. Although in the current scope these factors are not taken into account, implementing them in future evaluations can provide a more comprehensive insight into the currency exchange pattern.
