2024-05-02 Bermudian 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:


Overall Trend of Exchange Rates

The data spans over a period of roughly 24 hours, and it is observed that exchange rates have both increased and decreased at different intervals. The range of exchange rates lies between approximately 1.37 to 1.38, indicating a slightly volatile yet relatively tight range. There is a noticeable decrease in rates within the first few hours reaching a low of 1.377. The exchange rate peaked at around 1.378 again before finally settling into a mostly downward trend. Towards the end of the day, the rates seem to stabilize at around 1.372.

Seasonality or Recurring Patterns

Given the restriction of data to one day, it is challenging to identify any obvious seasonality or recurring patterns during the daily exchange rate variations. We would need a larger dataset that spans days, months or even years to fully explore the possibility of seasonality in the data.

Outliers Identification

No significant outliers were identified in this set of exchange rates in the short span of a day based on the given dataset. All the exchange rates seen appear within the range of 1.37 to 1.38, there's no substantial deviation from this range suggesting the absence of any outliers. However, it's important to note that what is considered an 'outlier' may vary significantly depending on the length and scope of the data analysed.

In conclusion, based on the provided data, one could say that the BMD exchange rates fluctuate during a day, signifying some volatility in the rates. The presence of seasonality or recurring patterns can't be ascertained with the given dataset, and no obvious outliers were observed within this one day period. For a more detailed analysis, a larger dataset including specifically marked impactful events, weekends, holidays or key financial happenings, we may be able to yield more complete insights.

Throughout May 1st On May 1, 2024, the Bermuda dollar, commonly known as the BMD, experienced a series of notable fluctuations throughout the day, catching the eyes of market watchers and sparking discussions on the future prospects of this tropical paradise''s currency. Starting the day at 1.37788 at midnight, the BMD began a roller-coaster ride unlike any in recent memory. The exchange rate kept largely steady in the first hour, hovering around the 1.378 mark. Still, as the time progressed to post-midnight sessions, the BMD began a gradual descent, reaching a significant low of 1.37048 by 2 PM. This downtrend sparked concern amongst market participants, prompting wide-ranging speculation about the factors driving this downward pressure. It''s worth noting that such a substantial drop in the exchange rate is fairly unusual, especially considering that the Bermuda currency is typically known for its stability. The decline was, however, short-lived. Riding on forces that are yet to be fully understood, the BMD started clawing back its losses after 2 PM. By 3 PM, it had regained significant ground, reaching an impressive 1.37208. This rebound sparked as many questions as the initial drop. Despite the early turbulence, the Bermuda exchange rate managed to stabilize later in the day. The rest of the evening displayed steadier trends, with the rate lingering around the 1.372 mark till midnight, ending the day slightly lower than it started. Although the cause of these unusual fluctuations remains unclear, the event has highlighted the importance of stability in a nation’s currency. Exchange rates reflect a nation’s economic health and financial stability, and large swings can usually indicate a change in these factors. While the day''s events have left many pondering the stability of Bermuda''s economy, others see it as an anomaly in an otherwise stable system. Moving ahead, market observers will no doubt keep a keen eye on the BMD''s performance and any potential factors affecting it. At this stage, it remains to be seen what implications this might have for Bermuda’s economy in the near and long term. Additionally, the impact on sectors heavily reliant on a stable exchange rate, such as import and export businesses, will require further analysis. In conclusion, May 1 being an extraordinary day for the BMD, projects the necessity of frequent analysis and understanding of the market trends. Investors, economists, and policy-makers will indeed be watching closely for what the future holds for the BMD and Bermuda''s broader economy.Historic BMD Exchange Rate Displays Unusual Fluctuations Throughout May 1st

Current Middle Market Exchange Rate

For information purposes only.