2024-04-17 Dalasi News

Summary of Yesterday

  • Opening:
  • Closing:
  • Difference of Opening & Closing:
  • Daily High:
  • Daily Low:
  • Difference of Daily High & Low:

Statistical Measures

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Trend

Overall Trend of Exchange Rates

An analysis of the dataset provided, which monitors the fluctuation in exchange rates (GMD) shows a relatively stable trend within the 20th April 2024 time frame. The GMD starts at 0.02034 at midnight and essentially maintains this figure throughout the day, with only minute increases and reductions documented. The highest rate recorded is a slight increase to 0.02041 while the lowest is 0.02031, The exchange rate does not deviate significantly from its starting point.

Seasonality or Recurring patterns

While the data seems to remain relatively stable, there are mild fluctuations in the exchange rate repetitive patterns within the data. The GMD tends to oscillate between 0.02037 and 0.02033 during the day. Such fluctuations are seen occurring at different points throughout the timeline, which suggests there may be recurrent patterns in the data. However, without more extensive data to observe these patterns over a greater period, we cannot conclusively determine whether these fluctuations represent a form of seasonality in the exchange rates.

Notable Outliers in Data

With the data provided, significant outliers are not immediately apparent due changes being minute in nature. That said, the lowest and highest rates could be taken into consideration as a form of outliers, with rates of 0.02031 and 0.02041 respectively. These values deviate slightly from the general trend and, while not substantial, could suggest outside factors momentarily impacting the exchange rates.

Remember, this analysis is based solely on the data provided and does not take into account any external influences or data beyond the provided range. Adjustments to the conclusions might be required if additional information such as market opening/closing hours, weekends/holidays, or release of key financial news and reports are considered.

Increase After a comprehensive review of financial data, a consistent pattern with a mild increase in the Gambia''s Dalasi (GMD) exchange rate has become evident. Between midnight and 11:59 PM on April 16, 2024, the GMD exchange rate saw an oscillatory movement around the 0.02034 mark. Despite minor fluctuations, seen as part of usual trading activity, the rate started at 0.02034 and ended at 0.02034, demonstrating significant stability. However, a period of gradual escalation was noted earlier in the day, with the rate peaking at 0.02041 around 9:00 AM. This represents a small but significant upturn in the value of GMD for the day in question. Economists and market experts believe this slight upswing in the exchange rate could be relevant to international investors eyeing the Gambia''s emerging markets. A stable exchange rate is indicative of a healthy economy, and the GMD performance suggests strong financial management. Relatively stable currencies like the GMD can provide a safe haven for investments, especially in times of global economic volatility. Maintaining an equilibrium in exchange rates also helps domestic businesses by providing a predictable environment for import and export activities. Following the increase in the morning, the GMD currency went through minor oscillations, but overall, it managed to maintain its enhanced value throughout the day. This stability could be the result of strategic fiscal policies or development in the domestic economic sectors. Nevertheless, it''s not just the numbers that make this story intriguing. The reasons behind this stability and the slight rise in the GMD value probe further discussion. It could be from increased foreign direct investment, strong economic policies, or surges in sectors like agriculture and services. Looking ahead, the focus would be on whether this trend continues to provide stability in the long run, with occasional moderate surges being sustained. Economists will be keeping a close watch on the Gambia’s economic indicators and factors, such as changes in inflation, GDP growth rate, and trade balance. Readers and potential investors are encouraged to observe how the GMD performs in the next few weeks, as it could indicate a strong investment opportunity. However, it is also vital to remember that foreign exchange investments come with some risk, regardless of the currency''s current performance. In conclusion, GMD''s performance on April 16, 2024, offers a snapshot of a well-balanced exchange rate. Whether it can maintain such an equilibrium will be the focal point of future financial analyses and discussions.GMD Exchange Rate Demonstrates Steady Trend With Slight Increase

Current Middle Market Exchange Rate

For information purposes only.