2024-04-19 Ethiopian Birr 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

Overall Trend Analysis

After analyzing the ETB exchange rate data from the provided dataset over the timestamps given, it appears that the exchange rate mostly fluctuates within a range of 0.02410 to 0.02425. The exchange rate is stable for the most part, with only minor variations.

Seasonality and Recurring Patterns

Upon initial analysis, the dataset does not visibly show any explicit seasonality or recurring patterns. The ETB exchange rate fluctuations seem to be random and do not show any direct correlation with the timestamps. Any apparent patterns may be due to coincidental correlation rather than seasonality because the frequency of such patterns doesn't have a fixed period.

Outlier and Anomaly Analysis

Similarly, upon reviewing the data provided, it appears that there were no significant outliers or anomalies in the exchange rate. The value of the exchange rate seems to stay relatively stable, fluctuating within a narrow band.

A Note on External Factors

While this analysis hasn't specifically considered external factors like market opening/closing hours, weekends/holidays, or the release of key financial news and reports, it's worth noting that such factors can have significant influence on the exchange rates. Future analysis could potentially yield more insightful results after accounting for such factors.

tions Consistency defines the financial markets, and that rings true for the Ethiopian Birr (ETB), which displayed remarkable consistency throughout the time frame of 18th April 2024. Notable stability marked the ETB''s performance with minute value fluctuations, reflecting a robust currency market status that looks good for stakeholders. It all started from 00:10:02 with an exchange rate of 0.02424. Amid minor upward and downward oscillations, the value hovered steadily around this benchmark for the specified period. A slight peak reached at 0.02425 but retraced effortlessly, steering clear of any big leaps or plunges, indicating a controlled and well-regulated economy. This continued stability exhibits the immunity of the ETB against international economic fluctuations, which is a positive sign for investors eyeing Ethiopian markets or for local businesses with international transactions. The constant rate over this interval means less fluctuation peril, lesser costs and greater predictability for importers and exporters, translating into a proficient and conducive business environment. The lowest figure registered was 0.02410 recorded at 10:35:02. Coincidentally, the ETB recovered smoothly back to its standard range, lending credence to the resilience of Ethiopia''s economy and the strong economic apparatus in place. Though these micro changes in ETB value might not seem momentous at first glance, they carry a much weightier impact in the financial world. For Forex traders, these minor fluctuations could mean the difference between profits and losses in the trading arena. Currency stability remains a critical aspect for foreign investors who look for a lack of extreme volatility before investing in any country. The repercussion of this stability extends beyond the financial spectrum, touching various sectors like trade, tourism, and foreign investment. It also shields the home economy from international financial turbulence, maintaining a balance in the import-export deficit and aiding economic growth. Looking towards the future, if the ETB maintains this course of stability, the prognosis is a robust financial structure for Ethiopia, inviting more foreign investment opportunities. People contemplating the Forex market will find it a reliable avenue to venture into. The bottom line is – while many international currencies experienced fluctuations due to global economic instabilities, the ETB with its impressive invariability has solidified Ethiopia''s position as a stable and booming economic hub. Investors, traders, and economic analysts will no doubt keep a close eye on this intriguing development over the coming days.ETB Sees Unshaken Stability Despite Subtle Value Fluctuations

Current Middle Market Exchange Rate

For information purposes only.