2024-05-21 Cayman Islands Dollar News
![Currency mart logo](../../../images/blog/currency-mart-logo.png)
2024-05-20
Summary of Last Month
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Overall Trend of Exchange Rates
The overall trend of the exchange rates from the data provided appears to be stable to slightly increasing. This is observed as the exchange rate ranging from approximately 1.630 to 1.640. The highest observed value was 1.640 and the lowest was around 1.630 indicating a general stability in the exchange rates.
Seasonality or Recurring Patterns
Without considering external factors like market opening/closing hours, weekends/holidays, or the release of key financial news and reports, it appears that the exchange rate does not show any notable seasonality or recurring patterns. The data seems to be quite random and does not showcase any predictable repeating patterns. However, a more thorough statistical analysis would be necessary to definitively rule out any seasonality or recurring patterns.
Outliers in the Exchange Rates
Looking at the data, most of the exchange rates are clustered around the mean thus, suggesting there's a low level of variability/volatility in the rates. No notable outliers, which would be data points that differ significantly from other observations, are observed in the dataset.
Summary
- The overall trend in the exchange rate seems to be relatively steady, with a slight upward tendency.
- No definitive seasonality or repetitive pattern was detected in the dataset.
- No significant outliers were detected in the dataset, indicating a stable exchange rate over the period.
Please note that the above conclusions are based solely on the dataset provided. Other external factors such as market conditions, political climate, and technological advancements that might affect exchange rates were not considered in this analysis as per your instruction.
![24-Hour Fluctuation: A Roller Coaster Day for KYD Exchange Rate](http://currencymart.net/images/news/cayman-islands-dollar/2024-05-21/img-TygxbAbLem82VLWcYCW3DRsZ.webp)