2024-05-17 Dalasi News

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.

bia''s Dalasi (GMD) has displayed an unwavering pattern of gradual, continuous growth over a period of 24 hours on May 16, 2024, according to a recently analyzed time-series dataset. The fluctuations, though subtle, paint a larger picture of the national currency''s resilience in today''s complex economic dynamics, standing as a testament to its endurance against pressures from the international market. The day began with the exchange rate standing at 0.02008, maintaining a steady trickle upward for half the day where it reached 0.02013, marking the peak value of the session. Although the growth margin was as minor as 0.00005 rise over a 12-hour period, the consistent and persistent rise speaks volumes about the underlying stability of the economy. This steady growth, observed in the day''s progression, is indicative of the GMD''s robustness despite varying international pressures affecting countless global economies. Despite the seemingly invariable data observed during the early hours, a closer inspection reveals the slow but steady strengthening of the GMD. Analysts have noted this ascent as a testament to the stability of The Gambia’s economy, anchored by its well-regulated financial sector, resilient cross-border remittances, and robust tourism inflows. The on-the-hour time-series data capturing the behavior of the exchange rates-meticulously tracked over the entire day- provides a panorama of an economy that is holding strong in today''s turbulent times. Key stakeholders, such as businesses and policymakers, can ascertain from this pattern that despite variations in the global financial climate, the GMD continues to withstand and evolve. Of course, the exchange rate only represents one side of the complex, multi-dimensional Gambia''s economic health barometer. However, investors, businesses, and individuals will surely take comfort in the currency''s resilience, indicative of a healthy economic backbone. As we move forward, it''s necessary to monitor how these rates alter and adapt. Observing the GMD''s performance against a wider basket of currencies will be crucial in unearthing richer information about The Gambia’s economic health and the Dalasi’s global standing. Its long-term trajectory, which can be analyzed through time-series data like the dataset analyzed here, will be key to understanding how Gambia is faring amidst the larger landscape of global finance. Investors will be keen to watch for any further uptick in Dalasi’s value, especially against the backdrop of larger global events playing out on the world stage. We live in an increasingly interconnected world where any nation''s economic tremor can potentially send ripples across the global financial sea. To that end, GMD''s exchange rate will continue to serve as a crucial measure of the nation''s economic fortitude.ntinuous Growth Witnessed in GMD Exchange Rates

The Gambia

Current Middle Market Exchange Rate

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