2024-05-17 Dominican Peso 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

Analysis of Time Series Data:

Upon examining the given time-series data for a specific day (16th May 2024), several insights can be deduced about the trend, seasonality, and outliers for the exchange rate (DOP).

1. Understanding the overall trend:

At the start of the day, the DOP data points are quite stable, starting with a value of 0.02345 at 00:00:02, and maintaining this value for several timestamps. Minor fluctuations begin to appear around 01:00:02, where the value moderately increases to 0.02346 and continues to incrementally increase for several timestamps. The peak value witnessed within this day is 0.02349 (timestamp: 05:35:02). Post that, from the timestamp 06:25:02 onwards, there is a noticeable drop in DOP's value to around 0.02328. The DOP steadily decreases reaching its lowest point at 0.02324 by 20:05:02. Overall, the DOP rate seems to have shown a minor increase in the earlier part of the day, followed by a steady decrease towards the latter half of the day.

2. Identifying seasonality or recurring patterns:

In the context of intra-day data changes as provided, identifying seasonality or regular patterns is slightly challenging. However, one might observe that there are minor increases in DOP value mostly happening during the earlier hours of the day, with eventual decline setting in as the day advances. No significantly prominent recurring pattern is observable from the data of this single day.

3. Outliers and extreme behaviors:

Outliers are extreme values that deviate from other observations on data. They might be caused by variability in data or errors. Upon examining the given data set, no significant outliers are clearly evident. The DOP exchange rate data for this particular day appear to fluctuate minimally and primarily within a small range of values, showcasing no significant unusual spikes or drops.

Note:

The above analysis is based on a single day's data and doesn't consider any external factors. For a more holistic and accurate understanding, it would be beneficial to analyze longer periods and consider trends in the context of external world events or financial news.

er 24 hours The Dominican Peso (DOP) exchange rate experienced minimal fluctuations over a 24-hour period on May 16, 2024, indicating a stable forex market for the DOP. The exchange rate began the day at 0.02345 at midnight and continued at the same rate until 1:00 AM when it experienced a minor increase to 0.02346. The rate hovered between 0.02345 and 0.02349 for the majority of the day. However, the DOP took a slight drop at 6:25 AM to 0.02328, marking the day''s lowest point. The minor variations in the currency''s exchange rate throughout the day reflect a well-balanced supply and demand for the DOP on the foreign exchange market. It suggests that the currency is neither under pressure due to external debts nor is it experiencing an influx of foreign capital that could potentially lead to a significant appreciation in its value. Even though the fluctuations were minor, they carry critical connotations for currency traders, especially those trading in the DOP. For these investors, even the smallest shifts can translate into crucial profit margins when trading significant volumes. Central Bank''s monetary policy and foreign trade dynamics often influence currency exchange rates. In this case, the DOP''s stability reflects positively on these aspects, suggesting a well-managed monetary policy by the Central Bank and balanced foreign trade. On the economic front, a stable exchange rate has multiple implications. For importers and exporters, it provides a predictable trade environment, reducing the risks associated with forex. For investors, a stable DOP means predictable returns on their investments. Finally, for the general public, limited currency fluctuations mean stable prices in the local market, contributing to overall economic stability. Looking forward, analysts and investors will be keeping an eye on economic indicators, central bank policies, and international trade relations that could affect the DOP. As worldwide economies continue to recover from Covid-19, the DOP''s performance against major currencies such as the USD, EUR, and GBP will also be of particular interest. In conclusion, while the day witnessed minor fluctuations in the DOP exchange rate, the broader picture suggests a phase of stability for the DOP. For now, it seems to be steady sailing ahead for the Dominican currency.Stable DOP exchange rate witnesses minor fluctuations over 24 hours

Current Middle Market Exchange Rate

For information purposes only.