2024-05-15 Egyptian Pound News
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2024-05-14
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. Understanding the Overall Trend of Exchange Rates
The data provided shows very minute fluctuations in the exchange rate over the specified time period. The rate starts at 0.02906 and ends at 0.0291, showing an extremely slight increase over time. Despite the minute fluctuations during this period, there is a stable and pretty much straight-line trend with very slight upward direction. Thus, there is a very slow appreciation of the currency over time, but no significant overall increase or decrease. It would appear that this particular exchange rate is relatively constant and does not fluctuate significantly on a daily basis.
2. Identifying Seasonality or Recurring Patterns
From the given data set, it's particularly challenging to identify any specific seasonality patterns or recurring trends in the exchange rates considering the time frame provided. The EGP rate maintains relative stability throughout the whole timeline, with just very slight fluctuations that do not show clear repetitive tendencies. Should the dataset be extended to cover longer period, seasonality or patterns might get more visible and predictable.
3. Outliers in the Exchange Rates
Outliers are single observations that lie an abnormal distance from other observations. Given the consistency of the exchange rates, the mean and median would be nearly identical with very little standard deviation. Therefore, any major deviation from the regular range of 0.02906 to 0.0291 could potentially be considered an outlier. In this case, however, the dataset does not appear to have any significant outliers since the rate values are very tight around the mean. This suggests that the currency markets for the EGP are quite stable and do not experience sudden, dramatic jumps or falls in value.
![EGP Exchange Rate Shows Stability with Expected Surge](http://currencymart.net/images/news/egyptian-pound/2024-05-15/img-fAIfJQlOGM7s1vmqtEVqrlab.webp)