2024-05-14 CFA Franc BCEAO News
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2024-05-13
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
Data Analysis
Dataset DiscussionThe dataset contains time series data of exchange rates (XOF) collected at different timestamps. The time spans from 0:00:02 AM to 23:55:02 PM on 13th May 2024. It seems like the dataset is collected every 5 minutes in an entire day. The currency rate ranges from 0.00224 - 0.00225 over the day.
1. Understanding the overall trend of the exchange rates.
The overall trend of the exchange rate remains stable for the most part of the day. There is a slight dip in exchange rate from 0.00225 to 0.00224 towards the end of day around 10:00 PM.
2. Identifying any seasonality or recurring patterns in the changes of exchange rates.
As the data is based on a single day, it is not possible to identify any evident seasonality or recurring pattern in this particular exchange rate. Short term intra-day patterns or seasonality might not always hold true in a longer term and needs daily data spread over several months or years. It's important to note that in price movements for foreign exchange rates, seasonality can be affected by a range of factors including macroeconomic indicators, market sentiment and global economic events.
3. Noting any outliers, or instances where the exchange rate differs significantly from what would be expected based on the trend or seasonality.
There were no significant outliers found in the dataset. All the listed exchange rates are within a minimal range and there is a slight decrease from 0.00225 to 0.00224 at the end of the day, which can be considered as a mild aberration from the general stability, although such minor fluctuations are quite common in currency exchange rates. Additionally, this observed dip cannot be designated as out of ordinary without considering other factors.
Conclusion
The time series dataset presents the exchange rate of a currency 'XOF' over different timestamp of a single day. On a general note, the exchange rate stayed stable throughout the day, with a slight dip observed towards the end of the day. Due to the limit of data, we cannot identify any clear seasonality or recurring patterns, or any significant outliers in this dataset. More extensive data that span over a more extended period would provide a more accurate analysis.
Disclaimer:Please note that this analysis is solely based on the provided data which is a single day's data. For a thorough analysis and understanding, data over a more extended period is needed. This analysis doesn't take into account any external factors like market opening/closing hours, weekends/holidays, or the release of key financial news and reports.
![Unwavering Stability: Unprecedented Solidity in XOF Exchange Rates](http://currencymart.net/images/news/cfa-franc-bceao/2024-05-14/img-FVOjB7vOnVsQNmtvenoEClZd.webp)