2024-05-21 Ethiopian Birr News
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2024-05-20
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
1. Overall Trend of The Exchange Rates
From the dataset, the general trend for the ETB exchange rate seems to be relatively stable over the given period. The values stay primarily within a narrow window of 0.02376 to 0.02378 for the majority of the timestamps. Of note, however, is a slight uptick in the exchange rate starting from around 01:05:02 on 2024-05-20, with gradual increases from 0.02376 at the start of the day to about 0.02378 later in the day. Nevertheless, the trend did not dramatically change, indicating overall stability.
2. Seasonality or Recurring Patterns
In the given dataset, there do not appear to be clear seasonality patterns or recurring trends. This means there is no apparent pattern that repeats at regular intervals. However, we can see a minor increase in the rate around 01:05:02 and then the rate stays slightly higher than the earlier rate for the rest of the day. The lack of a noticeable pattern could be due to exchange rates being affected by a myriad of ever-changing factors such as economic policies, market sentiments, and more.
3. Outliers in The Dataset
Outliers are typically defined as values that are significantly different from other observations. Looking through the provided dataset, there are no apparent outliers, as most exchange rates reside within a tight range between 0.02376 and 0.02378. This suggests consistency in the exchange rates over this particular period.
![Steady Surge in ETB Exchange Rate Reflects Economic Strength](http://currencymart.net/images/news/ethiopian-birr/2024-05-21/img-oHDtnYTBUTZXNIYKRL1qE2Lu.webp)