2024-05-02 Ghana Cedi News

Summary of Yesterday

  • Opening:
  • Closing:
  • Difference of Opening & Closing:
  • Daily High:
  • Daily Low:
  • Difference of Daily High & Low:

Statistical Measures

  • Mean:
  • Standard Deviation:

Trend

Overall Trend Analysis

Based on the provided data, the overall trend of the GHS exchange rate within the date range seems to be relatively stable with minor fluctuations. The exchange rate starts at 0.10027 on 2024-05-01 00:00:03 and ends at 0.10057 on 2024-05-01 23:55:02. The minimum value observed is at 0.09968 and the maximum at 0.10078 which suggests a relatively tight spread in the exchange rate.

Seasonality or Recurring Patterns

In terms of seasonality or recurring patterns, a more granular analysis could bring out patterns within specific hourly, daily, or monthly periods. However, within the scope of the provided data, which spans over a single day (1st May 2024), clear seasonality or recurring patterns might not be explicitly evident except for minor fluctuations which could be attributed to the natural ebb and flow of markets.

Outliers Analysis

Regarding outliers within this dataset, the standout would be the drop to 0.09968 at 2024-05-01 14:10:03 and the peak at 0.10078 at 2024-05-01 14:50:02. However, the exchange rates did return to the average levels swiftly in both circumstances. Therefore, these can be considered as natural volatility in the markets rather than consistent outliers.

In conclusion, the analysis of this dataset, while limited by the scope of its one-day span, does offer insight into the stability and general behavior of the GHS exchange rate within that period. A more extended dataset spanning over months or years would offer more concrete trends, seasonality, and outliers.

/h1> In the bustling financial terrain of May, 2024, a series of remarkable fluctuations was witnessed in the exchange rates of the Ghanian Cedi (GHS) as recorded on the day-long observation. Traders, investors, and economists had their eyes set keenly on the unpredictable roller coaster ride of GHS exchange rates throughout the day. Starting from 00:00:03, GHS kicked off with an exchange rate steady at 0.10027. As the day set forward, minor yet continual fluctuations were noted in the 24-hour window. By the second half of the day, a dramatic nosedive in the value was observed plunging the rates to 0.09968 at 14:10:03. Recovering from the slump swiftly, the rates rose, reaching a peak at 0.10078 by 14:50:02, painting a picture of remarkable resilience. Amidst the normal hustle and bustle of the financial world, such irregularities flag noteworthy developments that must be thoroughly analyzed. The rise and fall in the GHS exchange rate throughout the day reflect the volatile nature of the world''s foreign exchange market. It speaks volumes about the underlying tides of socioeconomic factors, governmental policies, and market dynamics at play -- all of which directly or indirectly impact the relative value of GHS. While such fluctuations can pose potential risks for financial stakes, they also promise possible profits for vigilant investors. The investors who bought the GHS during its lowest ebb at 14:10:03 and sold out at the peak at 14:50:02 undoubtedly reaped hefty profits, emphasizing the kingly rewards patience and vigilance offer. Such fiscal oscillations also mirror the agility of Ghana''s underlying economy. A rapid recovery from a plunge suggests strong economic fundamentals and effective fiscal measures in place. However, the volatile nature of these rates calls for necessitated risk mitigation measures and hedged investment strategies for organizations and individuals dealing in GHS. A day marred by notable highs and lows ended on a subtly reassuring note, with the exchange rate at 0.10057 at 23:55:02, reflecting the resilient spirit of the GHS. Predicting the patterns of foreign exchange dynamics is an intricate task given the multitude of influential factors at play. However, the unpredictability doesn''t diminish, rather amplifies the importance of keeping tabs on these temporal patterns. As the world steps into the next day, everyone from traders to economists will be keenly monitoring the trajectory of the GHS’s exchange rate. Will this oscillating trend proceed, or would it segue into a period of stability? Only continuous observation coupled with detailed analysis will unfold this mystery, dictating the fortunes of many in the days to come. Notable Fluctuations Observed amid GHS Exchange Rates

Current Middle Market Exchange Rate

For information purposes only.