2024-04-30 Denar 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:

Trend

Understanding the Overall Trend of Exchange Rates

Having analysed the provided dataset, the general trend of the exchange rates (MKD) throughout the period can be described as relatively stable. The rate appears to fluctuate slightly within a range of 0.02374 to 0.02380. Even though minor rises and falls are observed, there is no pronounced or continuous incline or decline during this specific period, thus we could not derive a specific positive or negative trend.

Seasonality or Recurring Patterns

In the given dataset, due to the short period it is difficult to observe a significant seasonal or recurring pattern. Further data over a longer time period would be necessary to conduct an effective analysis regarding seasonality. However, there is a repeated pattern of small fluctuations which could be due to daily trading activities.

Outliers Noted

No discernable outliers were identified from the given data. The exchange rates remain consistent within the specified range and there are no instances where the rates differed significantly from this consistent trend. However, this is based on the numerical range of the data provided and further analysis would be required over a longer time period and/or with additional external factors to identify potential outliers with more certainty.

Please keep in mind that given the short period of the dataset and the stability of the exchange rate throughout this period, more comprehensive conclusions could be drawn from deeper and more diverse data.
s The financial world is focused on the Republic of North Macedonia as it showcases a remarkable display of stability in its exchange rates, specifically with the Denar (MKD). In a period marked by significant financial fluctuations globally, the MKD has stood out with its predictability, per latest datasets. Between the timeframe of April 29th, 2024 from 00:00:02 to 23:45:02, the data reveals a more or less steady state of MKD exchange rates. The rate kicked off at 0.02374 and ended with a minute increase at 0.0238. While there were fluctuations occurring within this period, these changes were marginal at best, with the MKD oscillating in a very narrow band. The evidence of stability is significant in contemporary times that are marked by economic turbulence. For international investors, a stable exchange rate indicates lower currency risk when investing in that particular country. Consequently, North Macedonia is now emerging as an attractive destination for international traders and investors due to its consistent currency stability. Analyzing why MKD has remained remarkably stable could link back to significant financial reforms provided by the North Macedonia government. The regulatory bodies'' effective strategies seem to be helping keep the exchange rate from experiencing drastic fluctuations. The financial health of a nation is typically evaluated, among other things, by the constancy of its currency. This steadiness in the MKD''s Exchange Rate could be reflecting North Macedonia''s solid financial health. The MKD''s situation paints a promising picture for the country’s economy. A stable exchange rate fosters an environment conducive to international trade by reducing the level of uncertainty that foreign traders have to face. Looking ahead, the country''s domestic sectors that are attractive to foreign investors vary from agriculture, IT, energy to tourism. Continued stability in the MKD''s exchange rate could increase investor confidence, resulting in higher levels of Foreign Direct Investments (FDI). An increase in FDI often leads to a more robust economic performance, creating a virtuous cycle of investment and growth. Moving forward, market participants and observers will be keenly monitoring how the MKD performs. Given the currency''s surprising consistency in an unstable global economic landscape, the world will be watching to see if this trend continues. If the stability remains uninterrupted, North Macedonia might emerge as a preferred spot for investors, looking for assured returns in a shaky global economy.Marked Consistent Stability Highlights MKD Exchange Rates

Current Middle Market Exchange Rate

For information purposes only.