2024-04-16 Ghana Cedi 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 Analysis

The overall trend of the exchange rate appears to remain relatively stable, with minor fluctuations throughout the day. The data starts at an exchange rate of 0.1023 and ends at 0.10222, suggesting a marginal decrease over the time period provided. However, the variations throughout the day do not denote any clear increasing or decreasing trend, thus we can say the trend is largely stable.

Seasonality and Recurring Patterns

When analyzing the time-series data for the exchange rates, there is no clear indication of seasonality or recurring patterns. The minor fluctuations throughout the day do not appear to follow a consistent pattern that would suggest any form of seasonality. Time series typically demonstrates patterns across a longer time frame (years) rather than within a single day. Without this broader context, identifying patterns at this granularity is often misleading.

Outliers Analysis

In reviewing the data, there were no significant outliers observed. The exchange rate fluctuated within a very tight range between a maximum of 0.10255 and a minimum of 0.10213. Hence, it appears exchange rate remained quite consistent and stable, with no instances of significant deviations from its general pattern of minor fluctuations.

al for Long-Term Stability In the world of international finance, currency exchange rates are a critical determinant of a nation''s economic stability and global competitiveness. In recent observations of the Ghanaian Cedi (GHS), a fascinating pattern of subtle yet consistent changes over the course of a single day gives positive insights into the stability of the currency. On April 15, 2024, our team embarked on a comprehensive analysis of the GHS exchange rate. Data collected from the start of business hours to close of trading brought forth a picture of gradual shifts, varied as they are subtle, underlining the market''s inherent dynamism. Early in the day, a negligible drop from 0.1023 at midnight to 0.1022 by 1:30 AM indicated a start by shoring up investor confidence. The rate then maintained a stable range with occasional fluctuations of one-hundredth of a point mid-morning. The GHS struck a high at 0.10226 around 10 AM before retreating to 0.10224. This pattern of marginal ebb and flow continued throughout the afternoon. However, towards the evening, a noteworthy climb initiated around 7:20 PM, peaking at 0.1023 by 8:25 PM. This abrupt rise signifies potential market factors that triggered increased buying activity of the GHS. Understanding these subtle shifts in foreign exchange rates is crucial for both the local and international investor fraternity. While the changes presented here are minimal, they tell an intriguing story about both internal economic dynamics and global sentiments towards the Ghanaian economy. The fact that the GHS remained within an extremely tight range throughout the day exemplifies a stability that reflects positively on Ghana. In a turbulent global economy, such consistency can help foster confidence among foreign investors and local market participants alike. Strategists, economists, and investors would be eager to identify the factors contributing to this scenario of stability. Could it be the result of a robust fiscal management framework, gradual economic recovery, or proactive monetary policies? Delving into these and further macroeconomic factors could shed more light on the context. Moving forward, it becomes vital to watch out for continuous trends in the GHS exchange rate. Will the experienced stability sustain? Could we witness a sharper upswing or downturn in the days to come? Only time will answer these questions definitively. For investors looking to enter Ghanaian markets, this may be an ideal time. The stability exhibited by the GHS could predict favorable conditions for businesses and individuals alike. Market participants should stay vigilant for future fluctuations to make informed predictions on imminent market dynamics. In conclusion, the findings highlight the critical role of consistent data analysis in financial decision-making. The insights derived from such time-series data can inform investment strategies, policy decisions, and future predictions. The consistency exhibited by the GHC during the day under observation sends a promising signal to market observers and participants eagerly eyeing Africa''s promising economies.Subtle Fluctuations in GHS Exchange Rate Suggest Potential for Long-Term Stability

Current Middle Market Exchange Rate

For information purposes only.