2024-05-03 Ethiopian Birr News
2024-05-02
Summary of Yesterday
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Overview of exchange rate trend
Upon initial observation of the data, it's clear that the exchange rate fluctuates over the provided timeframe with a general downward trend from 0.024 to 0.02359. However, the downward trend is not sustained continuously. The trend shows periodically stable rates, followed by sudden decreases and increases. For example, the rate initially stands at 0.024, gradually decreases to 0.02397, then increases back to 0.024, before seeing a more significant decrease to 0.0237 towards the end of the dataset. The overall trend suggests that the rate is subject to fluctuations, though tends to decrease over time.
Seasonality and Recurring patterns
As for recurring patterns or seasonality, it is difficult to pinpoint such with the provided dataset. This is because the data covers one day, which is insufficient to identify any daily, weekly, or monthly patterns. Generally, for observing seasonality, a more extended period covering at least multiple complete cycles (i.e., one year or multiple weeks) is required. Therefore, assumptions about seasonality or recurring patterns based on this dataset alone would be highly speculative and may not prove accurate.
Outliers
The most noticeable 'outliers' in this dataset are the instances when the rate changes significantly. The first significant change occurs around 06:20:02, where the rate drops from 0.024 to 0.0237, and the rate stays around 0.0237 for roughly the next five hours. Afterwards, the rate decreases slightly more, hovering around 0.0236 for much of the remainder of the day. However, there is another significant drop at 20:00:03 to 0.02398. These significant changes are not typical when compared to the rest of the data, where rate fluctuations are generally more gradual and less drastic. However, without a broader context, it's difficult to determine if these changes are true outliers or if they are due to factors external to the dataset that are causing these fluctuations.
Please refer to a financial analyst or advisor for more detailed and personalized financial analysis.
