2024-05-15 CFA Franc BCEAO News
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2024-05-14
Summary of Yesterday
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Analysis of the Time Series Data
The time series data is presented for the exchange rates (XOF) with the timestamps. The general trend, seasonality, and outliers in the data can be analyzed through various methods. Here are the findings based on the given data:
1. Understanding the Overall Trend
The overall trend of the exchange rates in this dataset is relatively stable. This observation is based on the similar exchange rate values throughout, which remains constant at 0.00224 for a significant portion and later shifting to 0.00225. However, such minor fluctuations do not portray a clear trend of increase or decrease. So, generally speaking, the exchange rates have shown stability throughout the period shown.
2. Identifying Seasonality
This dataset does not present observable seasonality or recurring patterns in the exchange rates. Given that the exchange rate mostly remained stable throughout the timestamps, no recurrent patterns of rate changes can be identified within this dataset.
3. Noting Outliers
In terms of outliers, the dataset shows none, since the exchange rates are consistent throughout the duration. The rate changes from 0.00224 to 0.00225 which is not significant enough to be considered as an outlier. Hence, there are no instances where the exchange rate appears to differ greatly from the overall trend.
The analysis does not take into account any external factors like the opening or closing of markets, weekends or holidays, or the release of vital financial reports or news. Furthermore, no forecast for future exchange rates has been generated.
![Stable XOF Exchange Rate Holds Steady All Day](http://currencymart.net/images/news/cfa-franc-bceao/2024-05-15/img-4qzm3WhEQ7WHRH4cGX2WPmOA.webp)