2024-05-09 Ethiopian Birr News
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2024-05-08
Summary of Yesterday
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Analysis Summary
After a thorough analysis of the dataset, we can compile the following key points:
Overall Trend of Exchange Rates
The data shows a generally stable trend in exchange rates with minute fluctuations over the period shown. The exchange rate started from 0.02411, briefly increased to 0.02412, and then decreased to 0.02388 towards the end of the period.
Seasonality or Recurring Patterns
In terms of seasonality or recurring patterns, the dataset does not provide obvious indications. The exchange rate remains remarkably steady throughout most of the reported period, with only subtle changes. Because the dataset spans a single day, it's difficult to detect any weekly or monthly patterns if any exist.
Outliers in the Data
- The data point at time "2024-05-08 06:25:02" where the rate changes more significantly than prior fluctuations could be considered an outlier, the rate dropped from 0.02411 to 0.02395.
- The data shows another potential outlier on "2024-05-08 11:25:03" where the rate changes from 0.02389 to 0.02399.
These changes are more significant compared to the very minor fluctuations observed throughout the day, but are not extremely unexpected or drastic when analysing exchange rate data.
Overall, the exchange rates remain fairly consistent throughout the dataset with only minor deviations. These fluctuations are normal in exchange rate data and could be due to a variety of micro and macroeconomic factors.
![Remarkable Stability Observed in ETB Exchange Rates Over Day](http://currencymart.net/images/news/ethiopian-birr/2024-05-09/img-IiFVuFtI06gPtG5XwGEWJ2wC.webp)