2024-05-15 Barbados Dollar News

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 of the Exchange Rates

After examining the data set, the overall trend of the exchange rates is somewhat stable. The exchange rate at the beginning of the time frame (2024-05-14 00:00:02) is 0.67789, and towards the end (2024-05-14 23:55:02), it is 0.67708. The rates have fluctuated between these two values so they present a minor overall decline. They peaked a couple of times at 0.67803 and reached a low of 0.67528.

Seasonality or Recurring Patterns

It appears there are some possible recurring patterns within the dataset. Specifically, most significant changes in the rates occur within the time frame of 08:00 to 10:00. This pattern could reflect the market opening times and the influx of new data or trends affecting the market when it opens. But for a more accurate assessment of seasonality, it would be ideal to have data that covers multiple cycles over a longer time period.

Notable Outliers

Most of the outliers in the dataset also seem to occur around the time of market opening (08:00 -10:00). The lowest recorded value in this set, 0.67528, is observed at 2024-05-14 at 09:00. Unexpectedly, there is another significant drop later at 2024-05-14 at 20:05 where the value hits 0.67733 from 0.67613, indicating a significant increase. These instances stand out for being particularly different from the trend of the data set.

D''s Performance Amid varying global financial conditions recorded on May 14, 2024, the exchange rate of the BBD (Barbadian Dollar) demonstrated a mild fluctuation. Our close monitoring of the changes from 00:00 to 23:55 revealed a mostly stable ebb and flow, with subtle spikes and troughs throughout the day. Initially, at the start of the day, the BBD rate held at 0.67789. As the day rolled on into the early hours, the rates remained relatively steady, experiencing minor changes within the 0.677 range. The data shows that the rate steadily decreased, indicating a weakening of the currency. However, a pattern of recovery was evident after each decrease throughout the day - an overall robust performance that shows strength in the currency''s value. Towards the afternoon, specifically from 16:05 to 16:10, the BBD surprisingly rallied to 0.67644, boosting confidence among traders and suggesting a positive turn compared to earlier figures. A key observation during this 24-hour period is the currency''s resilience. Despite the small slip towards the afternoon, the BBD managed to maintain its ground, which indeed signifies stability in the Barbadian financial landscape. This period of minimal fluctuation could be the result of several factors, such as the precautionary stances of investors due to potential policy changes, economic outlook, or global factors such as the ongoing diplomatic and trade talks among countries. The seemingly trivial differences in the exchange rates may seem non-eventful to a layman. Still, for financial analysts, economists, and particularly international investors, these fluctuations provide significant insights into the economic health and fiscal policies of the region. Looking to the future, these identified patterns are particularly valuable. While short term, day-to-day change can be minor, over a longer period, these fluctuations can tell a story. The trends help analysts predict future performance and drive strategic business decisions. The BBD''s performance against other currencies and the stability it demonstrated on this day might spark increased investor interest in the Barbadian economy. The seemingly steady rate provides a degree of certainty, greatly appreciated amid the unpredictability of the world market. As Barbados and indeed the world, continues to navigate the ever-evolving financial landscape, we will keep a close eye on these trends. For now, the close of May 14, 2024, reinforces the stability of the BBD, demonstrating a display of resilience in an often turbulent market. A trait that will potentially serve it well moving forward in the world of finance.Exchange Rates Show Mild Fluctuation: A Close Look at BBD

Current Middle Market Exchange Rate

For information purposes only.