2024-05-16 Bulgarian Lev News
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2024-05-15
Summary of Yesterday
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Based on the data provided, below are the findings in HTML format:Understanding the Overall Trend of Exchange Rates
From taking an overall look at the dataset, it appears that exchange rates have both increased and decreased over the timeframe collected. There doesn't seem to be a clear and steady increase or decrease. The rate started at 0.75525 and ended at 0.75751. Though there is a minor increase over the entire timeframe, the changes occur in a fluctuating pattern with no distinct long-term upward or downward trend.
Identifying Seasonality and Recurring Patterns
Due to the dataset's constraints, periods of daily and intra-daily seasonality could potentially arise; however, identifying seasonality of exchange rates with hourly data would be more accurate with a larger dataset that spans over a more extended period. Currently, based on the data on hand, we don't notice a clear seasonal pattern that recurs daily or within the day. More data that spans over weeks or months could reveal discernable patterns.
Identifying Outliers in Exchange Rates
The data shows several occurrences where the exchange rate sees a significant change in a short period. However, the identification of these as either outliers or norm part of the market volatility depends on the context. Given the objective to observe the trend without consideration of an event-based outlier, the seemingly significant fluctuations can be considered part of the overall variability of the data, rather than as outliers.
However, without considering market events or external financial news, the data currently does not show any extreme outlier that stands out significantly from the rest of the data pattern.
Remember, exchange rates are affected by a myriad of factors that can include external ones such as geopolitical events, economic news, market opening/closing, and other factors that can lead to significant changes in a short period.!["Currency Rollercoaster: Major Fluctuations Noted in BGN Exchange Rates"](http://currencymart.net/images/news/bulgarian-lev/2024-05-16/img-KyLaEexvw8TebVhelVYj0aUT.webp)