2024-04-18 Belize Dollar News
2024-04-17
Summary of Yesterday
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Analysis of Exchange Rates Dataset
In the analysis of exchange rates datasets, it's important to consider certain aspects of how they behave over time. These aspects include trends, seasonality, and outliers. We will look at each of them in detail.
Understanding Overall Trend of the Exchange Rates
Upon inspection of the dataset, it can be observed that the exchange rates have minor fluctuations with an overall decreasing trend. From an initial rate of 0.68537, it has decreased to 0.6843 over the period shown. However, the change is subtle indicating a relatively stable exchange rate. Thus, there are no major ups and downs over this timeframe suggesting a steady market condition.
Identifying Seasonality or Recurring Patterns
In the timeframe present in the dataset, it's challenging to conclusively determine any seasonal or recurring patterns. The time series data available is not of sufficient length (approximate just one day of data), and seasonality generally requires a longer period for patterns such as weekly or monthly variations to emerge. However, we could potentially explore seasonality by conducting further analysis if we had exchange rates data over a much longer period.
Noting any Outliers
A cursory glance at the dataset suggests that there are no remarkable outliers. The exchange rates have remained within a tight range across the entire dataset. This suggests that the exchange rate has remained relatively stable without any significant or sudden jumps. A more in-depth statistical analysis could provide a deeper understanding of any potential outliers, however, this is outside of the scope of this task.
In conclusion, the dataset shows a gently decreasing trend in the exchange rates, without any pronounced seasonality or outliers over the examined period.
