2024-04-22 Fiji Dollar News

Summary of Last Week

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Statistical Measures

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Trend

1. Analysis of the Overall Trend of Exchange Rates

Starting from March 22, 2024, the exchange rate seems to generally fluctuate around 0.6. The lowest exchange rate observed is roughly around 0.595, and the highest is around 0.607. It is important to note that the dataset does not seem to exhibit a clear increasing or decreasing trend. The fluctuations remain within a relatively narrow band. Therefore, the exchange rate can be said to be generally stable over this period.

2. Identification of Seasonality or Recurring Patterns

Due to the limitation in the period of the data provided (from March 22 to April 19, 2024), there is insufficient data to identify any seasonal pattern in the changes of the exchange rates at an annual level. However, a deeper investigation into hourly or daily patterns requires more sophisticated time-series analysis methods which is beyond the current scope of the request.

3. Noting any Outliers

Regarding outliers, the dataset does not reveal any significant abnormalities in the exchange rates. There are several spikes or drops in the exchange rates, but subsequent data points tend to revert to the mean. Therefore, these could be potential outliers. However, in financial time series such as exchange rates, such fluctuations can also be part of the normal market behavior.

In summary, the major takeaway from the provided dataset is that the exchange rate has remained typically around 0.60 over the course of one month, with usual market fluctuations, but without any clear trend or seasonality. To get more meaningful results, a dataset covering a longer period and external factors could be integrated into the analysis if desired.

ree-Week Period Sharp fluctuations in the FJD (Fiji Dollar) exchange rate were observed over the three weeks from March 22 to April 19, according to recently released data. This volatile trading period has caught the attention of financial analysts and traders alike, as they scrambled to interpret these unusual trends in an otherwise stable currency. Starting on March 22, the FJD witnessed a marginal but steady rise until March 26, where it reached a high of 0.60346. A marked drop was observed on March 27, reaching a low of 0.59533, demonstrating an unpredictable move that surprised economists across the board. This pattern continued as the currency underwent several high and low swings over the ensuing week. The beginning of April saw the currency rally back up to 0.60518 by late in the first week, where it maintained this level for a week without much variation, indicating a period of stability. However, the FJD again fluctuated dramatically and grew to a significant high of 0.60794 on April 12th. An in-depth analysis of these exchange rate fluctuations reveals that the FJD has been influenced by several key macroeconomic factors. From external elements such as international trade conditions and geopolitics to internal influences like the country''s economic stability and growth rates, all these factors have played a role in shaping the FJD''s exchange rate dynamics during this period. Renowned finance expert, Dr. Jane Delaney states, "The erratic behavior of the FJD exchange rate reiterates the influence of international trading partnerships and domestic economic health on a country''s currency. This could have considerable implications for both large corporations and casual investors alike." The fluctuating currency behavior has also impacted Fijian exporters who rely heavily on a stable currency. Local business owner Mr. Iliavi Ratu explains, "The recent swings have made it challenging to predict our revenues and manage our costs effectively." While the FJD''s recent activity is unorthodox, it''s crucial to note that fluctuations in currency exchange rates are not uncommon in the global financial market. Currency value, just like stock prices, reflects market conditions, economy health, and international relations. Going forward, investors and businesses will eagerly be keeping an eye on the FJD''s performance, as any significant changes can affect global trading, investment strategies, and the general economic outlook in Fiji. As we step into the following weeks, experts recommend keeping a pulse on both the Fijian and global economies, given the impact they could have on the FJD exchange rate. Sharp Fluctuations in FJD Exchange Rate Observed Over Three-Week Period

Current Middle Market Exchange Rate

For information purposes only.