2024-05-09 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

Looking at the given dataset, which spans over a period from 2024-05-08 00:00:02 to 2024-05-08 23:55:02, I performed a preliminary analysis of the exchange rates mentioned. Within this 24-hour period, the smallest exchange rate seen is around 1.37193 with the highest reaching up to 1.3762. Comparing the starting and final rates (1.37532 and 1.37252 respectively), a minor decrease is detected.

However, the rates fluctuate throughout the time period, with multiple increases and decreases being noted as time progresses. Therefore, it wouldn’t be accurate to say there is a clear increasing or decreasing overall trend for this specific data snapshot. Rather, it seems to indicate a somewhat volatile market for that period.

Seasonality or Recurring Patterns

As for seasonality or recurring patterns, given the specified data is only for a 24-hour period, it's tricky to form a solid conclusion about any potential seasonal changes which are usually observed over a much longer time period (usually across quarters, months or weeks).

Regarding recurring patterns in intraday data, although there are periods with noticeable tendencies such as pronounced movement to higher or lower values, these tend to be dispersed throughout the day rather than forming a discernible continuous pattern we could definitively highlight.


Outliers, or values that significantly deviate from the expected based on the established trend, can potentially be detected using statistical methods such as the standard deviation, but on glance, no major outliers were detected within the provided data. Safe to say, the fluctuations within this dataset align with the usual exchange rate market's volatility.

Please note that for a comprehensive understanding and assessment of the data, it would be better to perform further, more in-depth statistical tests and visualizations. This might involve creating line charts to visualize the changes, employing statistical software to identify outliers, or running time-series analyses to better surface potential patterns.

onomic Uncertainty May 8, 2024, proved to be a tumultuous day for currency markets, with the exchange rate of the Bermudian Dollar (BMD) exhibiting signs of high volatility. Market watchers observed the BMD exchange rate fluctuating considerably over a 24-hour period, highlighting the dynamic and unpredictable nature of the currency markets. In the early hours of the day, the BMD started at a rate of 1.37532. As the clock ticked, traders witnessed a series of ups and downs, with the rate soaring to a high point of 1.37619 mid-morning. An afternoon dip saw the rate falling to a daily low of 1.37193, only to bounce back to a mid-range of 1.37282 by evening. The rate''s fluctuations throughout the day demonstrated the BMD''s inherent volatility, a vital factor for forex traders, importers, and exporters who have to tackle and handle exchange rate risk. Importantly, these variations also reflect wider macroeconomic conditions, geopolitical events, and market sentiment that influence the currency''s demand and supply. Forex market volatility has potential ramifications on the broader economy. With the BMD reflecting volatility, companies that rely heavily on imported goods could face increasing costs if the BMD depreciates against other currencies. For exporters, a depreciating BMD could bring more competitive prices to international markets but could also lower their income in BMD terms. The rapid fluctuations in exchange rates also present significant challenges for financial planning. For investors and businesses looking to make cross-border transactions or investment decisions, exchange rate uncertainty could impact potential returns or increase costs. An element driving this exchange rate volatility could be recent economic uncertainty. Global geopolitical events and regional economic concerns often cause investors to move their money across borders, resulting in forex pressures. As numerous uncertainties cloud the horizon, traders and investors can expect continuing volatility in the currency markets. The effects of geopolitical and economic events, changes in interest rates, and shifts in market sentiment will continue to drive movements in the forex market, making currency risk management an increasingly vital aspect of conducting international business. Looking ahead, market participants will keep a close watch on developments that could sway the BMD exchange rates. With the underlying volatility of this market, traders must remain prepared for potential shifts and consider employing hedging strategies to mitigate risks associated with exchange rate volatility. As the world navigates the complexities of a changing economic landscape, the currency market continues to reflect these changes in real-time, underscoring the importance of vigilant and strategic planning.Market Exhibits Volatility in BMD Exchange Rates Amid Economic Uncertainty

Current Middle Market Exchange Rate

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