2024-04-30 Ethiopian Birr News
2024-04-29
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
Overall Trend of the Exchange Rates
Upon analysis of the given data, the overall trend shows a gradual increase in the exchange rate from the start (0.02373) to the end (0.02383) of the period. The slight upward trend indicates that the exchange rate gradually appreciated over the period covered in the data set. However, it's essential to note that within this overall upward trajectory, there were times of minor drops and periods of relative stability.
Seasonality or Recurring Patterns
From the data, it does not appear that there are any clear patterns of seasonality present. The data does not show any significant and consistent fluctuations at any specific time or interval that would suggest a seasonality effect. Nevertheless, the lack of a biting pattern could be due to the relatively short period covered by the data set. Seasonality trends in financial data are often apparent over more extended periods.
Outliers in the Exchange Rates
Individual outliers can be harder to delineate in time series data, especially without the context of historical data and standard deviation measures. That said, the data set does not appear to contain any points where the exchange rate differs significantly from the surrounding data points over the given period. The changes are gradual and quite consistent with the detected slow upward trend, with no abrupt spikes or dips that would suggest an outlier.
Conclusion:
Overall, the data shows a subtle rise in the exchange rate over time, with no clear signs of seasonality or significant outliers within this particular period. However, understanding the underlying factors driving these currency movements can provide more profound insights and more accurate future predictions. For this time series data analysis, specific events and external factors were not accounted for, as per the request. It's necessary to stress that considering such factors can significantly affect exchange rates and contribute to a more comprehensive and nuanced analysis.