2024-05-17 Dalasi News
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2024-05-16
Summary of Yesterday
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Overall Trend Analysis
After thoroughly reviewing the time-series data provided, it is observed that the exchange rate exhibits a relatively stable trend over the covered period. There are minor fluctuations, with the rate rising from 0.02008 to a peak of 0.02013 before decreasing back down to 0.02007, but the extent of these changes is relatively minor in the grand scope of the dataset.
Seasonality and Recurring Patterns
In terms of seasonality or recurring patterns, the dataset does not immediately indicate any specific pattern on a daily basis. The fluctuations seem to arise at different intervals throughout the day rather than during specific timeframes, suggesting the absence of a noticeable intraday seasonal effect. More granular data, or data over a longer timeframe, might be required to detect any seasonal patterns.
Outliers
The dataset also does not exhibit any standout outliers. Most changes happen incrementally and there are no sudden jumps or dips in the exchange rates within the data provided. It's important to note that outlier detection is a significant part of financial time series analysis and can indicate abnormal market activities, but according to the analysis of the data provided, no outliers were detected.
Potential external factors
While this analysis did not take into account external factors such as market opening/closing hours, weekends/holidays, or the release of key financial news, it is crucial to note that such factors can significantly impact exchange rates. However, the provided dataset does not possess the requisite details for such an analysis. Moreover, the considered time frame is too short, and data is only available for a 24 hour period which is insufficient to capture the effect of these factors.
In conclusion, this time-series data illustrates a fairly stable exchange rate with minor fluctuations throughout the analyzed period. However, to gain a more comprehensive understanding of the exchange rate's dynamics, further data analysis with a larger dataset covering a wider time range and considering influencing external factors would be beneficial.
![ntinuous Growth Witnessed in GMD Exchange Rates
The Gambia](http://currencymart.net/images/news/dalasi/2024-05-17/img-kaNYyRjtuIRwSfFkFkPVS0MK.webp)