2024-04-23 Danish Krone News

Summary of Last Month

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

Statistical Measures

  • Mean:
  • Standard Deviation:


1. Understanding the Overall Trend of the Exchange Rates

From preliminary observations, the DKK exchange rate fluctuates between 0.1955 and 0.1963. However, the rate does not deviate significantly from around 0.1960. Sheer inspection presents a largely stable rate, with only minor fluctuations throughout the period.

2. Identifying Seasonality

Discerning distinct patterns or seasonality in the data is difficult without context or a larger dataset. Extracting and justifying seasonality could require additional data such as annual, monthly or weekly trends. As of now, no identifiable seasonality or recurring patterns can be clearly seen within these exchange rates.

3. Noting Any Outliers

In this dataset, no distinct outliers were immediately evident. The exchange rates largely range around the 0.1960 mark and do not deviate significantly. Therefore, identification of any outliers could potentially require deeper statistical analysis.

In general, without consideration of specific events or market conditions, the DKK exchange rate within the provided period seems to exhibit minor fluctuations around a stable mean. It is recommended to employ statistical analysis for a more precise study, and consideration of a larger timeframe could aid in more accurately identifying trends and patterns.

Hours The Danish Krone (DKK) witnessed a significant journey of ups and downs in its exchange rates over a 24-hour period on April 22, 2024. Starting and ending the day at the same position did not keep the Danish Krone from experiencing an unstable run and maintaining a fluctuating trend throughout. From the start till the middle of the day at a precise time of 12:55pm, the DKK exchange rate fell from an initial 0.19625 to a low of 0.19563, marking a considerable drop. This was followed by a sudden surge, reaching a mid-day high of 0.19582. While the fluctuations were not drastic enough to wreak havoc in the market, they were indeed noticeable, especially to keen investors and traders. This dramatic fluctuation is an inherent characteristic of financial markets where value changes continuously due to supply and demand. The correlation between numerous domestic and international economic factors, such as foreign exchange demand, domestic economic performance, political stability, and investor perspectives, significantly influence these fluctuations. As the day progressed, the DKK exchange rate exhibited slight instability but managed to stabilize by the closing hours. Though the trend fluctuated, the overall movement remained within a constrained range, earning the financial market accolades for its resilience. However, it is not yet clear what impacted this exchange rate roller-coaster. With global economic indicators appearing stable on the day, the varying DKK rates can to an extent, be attributed to influences from economic aspects beyond immediate national borders. The DKK exchange rates fluctuating nature brings a piece of good news for traders who love to speculate and play on market volatility. In contrast, for long-term institutional investors, such fluctuations can serve as a warning bell to reconsider their strategies. Financial analysts suggest that fluctuations such as this one, although regular, reveal the palpable effects of global economics on national currency. They prompt investors to equip themselves with a profound comprehension of the market, thereby making informed decisions based on comprehensive understandings. Looking ahead, as Denmark grapples with the changing exchange rate of the DKK, market enthusiasts, investors, and financial analysts across the globe will have their eyes on the currency. All eyes will be on Denmark''s next economic moves, as each decision could sway the DKK currency exchange rate. The upcoming days will indeed be crucial for the world to witness whether or not the DKK can wheel itself back to stability.Dramatic Fluctuation seen in DKK Exchange Rates Over 24 Hours

Current Middle Market Exchange Rate

For information purposes only.