2024-05-22 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

1. Overall Trend

Observations from the data showed a predominantly stable exchange rate, commonly fluctuating around 0.02012 to 0.02013 over the entire period. We can deduce a slightly declining trajectory (from 0.02013 to as low as 0.0201) from the start of the period until around 07:00:03 on 21st May 2024. Following this, the period witnessed a brief hike, with the rate peaking at 0.02018 at 08:05:03. Post this point, the rate slowly descended back, ultimately stabilizing around the 0.02014 mark for the remainder of the period, with marginal fluctuations.

2. Seasonality and Recurring Patterns

Given the time span of a single day, the data doesn't provide clear seasonal patterns. Precise seasonality in financial data generally requires multiple cycles of data across a broader time span. However, on this particular day, the exchange rate saw a decline from midnight leading up to the early morning (around 07:00). This was followed by a brief increase, peaking at around 08:05. Soon after, it returned to a stable and slightly lower level for the remainder of the day.

3. Outliers and Significant Variations

The 0.02018 mark hit at 08:05:03 could potentially be seen as an outlier, given it varies significantly from the remaining values in this dataset. However, it's important to note that without a broader, contextual dataset, true outliers are challenging to identify definitively, especially in financial data, which is often characterized by random walk patterns.

It's noteworthy that the data does not depict an unexpected exchange rate jump, which would typically be triggered due to significant macroeconomic news or fundamental changes in the underlying economic conditions.

ok The Gambian Dalasi (GMD) noted a remarkable steadiness in its exchange rate in a recent analysis of time series data. The analysis covers the changes in exchange rates monitored across the timestamp of 21st May 2024. In an increasingly volatile global economic scenario, the Gambian Dalasi has shown a promise of stability and consistency. Throughout the day on the 21st of May, the exchange rates for GMD have presented minimal fluctuation. Starting at a rate of 0.02013 at the beginning of the day, the data showed the rate dipping to 0.0201 during the early hours of 7 am before seeing a rise to 0.02018 by 8:05 am, which was the highest rate of the day. The rate then settled back at around 0.02014 for the majority of the day with the lowest dip at 0.0201 observed in the late hours of the evening. This exhibit of stability in the exchange rate of GMD sends out a strong message of assurance to both investors within the region and those eyeing opportunities in Gambian markets. A stable exchange rate is often indicative of a robust economic strategy that enables foreign investors to project long-term financial decisions without the anxiety of untoward surprises. While the changing global economic climate and new regional trade agreements have thrown several unpredictable elements into the mix, the Gambian Dalasi''s resilience against such pressures suggests a promising future. The consistency of GMD signifies a robust economic structure and, in turn, reflects positively on the Gambian economy overall. Despite the somewhat static scenario, there were a few interesting deviations noted in the dataset. A minor rise in the exchange rate observed at 8:05 am has caught analysts'' attention. Although it was short-lived, experts suggest that this could be an aftermath of the market''s opening pulse often observed in trade-heavy economies. While this day was marked by notable stability, the long-term trajectory of the GMD would still be determined by domestic economic policies, overall market sentiment, as well as the global economic climate. Moving forward, investors and market specialists will keep a close eye on GMD''s performance in the weeks to come. Stable as the Dalasi may be, like any entity subjected to the global market forces, the sustainability of this stability remains to be seen. It''s crucial for interested parties to continue studying market trends and shifts closely, especially in the economic landscape that is as dynamic and fluid as ours.Stable GMD Exchange Rate Marks Consistent Economic Outlook

Current Middle Market Exchange Rate

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