2024-04-30 Ethiopian Birr 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

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.

urs In breaking finance news, data has emerged revealing a slow and steady growth in the exchange rates for ETB. Throughout the 24-hour span on 29th April 2024, there was a notable increase in ETB exchange rates. The data shows a nominal but consistent climb in the value of the ETB from 00:00:02 at a rate of 0.02373, to a closing rate at 23:45:02 at 0.02383. The infinitesimal rate increase showcases a bullish trend over the duration of the day that could serve as a promising factor for potential investors. Throughout the first half of the day, the rate of increase was subtle, with minor fluctuations recorded. The rate stood at 0.02374, five minutes into the day, changing marginally to reach 0.02379 by 06:40:02, marking the highest point of the first half. However, during the second half of the day, the exchange rate saw a more noticeable ascent, reaching the peak of 0.02390 at 14:05:05. This point marked the highest recorded rate for the entire day. The affirmation of a rising trend throughout the day is beneficial for traders operating in this currency. Amidst the growing digital finance landscape, such positive growth, albeit slow, reaffirms faith in the stability and potential of ETB. The steady growth in exchange rates points towards a solid economic base. With the economy demonstrating positive trends, the increase, though subtle, raises trading prospects and opportunities in the ETB currency exchange market. This trend''s significance lies not only in what it represents for currency traders but also for the broader economic implications. Considering the global economy and the volatility of international markets, the steadiness in ETB hints at stability, and from the investor''s point of view, reduced risk. Yet, any seasoned financial analyst knows that markets are anything but predictable. While we''ve witnessed a steady increase in ETB exchange rates within this time frame, market tendencies can change due to a thousand different factors such as policies, global events, or aggregate market sentiment. Looking to the future, traders and investors are keen to see if this trend persists. The currency market will undoubtedly keep a close eye on the performance of ETB as further fluctuations could significantly impact trading strategies. Today''s trend analysis serves as a baseline for comparing ETB''s future performance and a touchstone in understanding the ETB market''s ongoing evolution. This steady growth not only impacts ETB traders but directs attention to opportunities within the global financial landscape. This shift, albeit slow, demonstrates the fluid nature of the financial market where changes are ever-present and often unpredictable. As traders hold their breath for future trends, the steady growth of ETB serves as a promising beacon in an ever-changing finance realm.ETB Exchange Rates Display Slow, Steady Climb Over 24 Hours

Current Middle Market Exchange Rate

For information purposes only.