2024-05-14 Ghana Cedi News
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2024-05-13
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 of the Exchange Rates
Observing the given dataset, it seems that the overall trend of the exchange rates has minor fluctuations but generally tends to stay around a singular value of 0.0974. The variations show with rates slightly rising and falling, however, they are not significant and do not indicate any prominent increase or decrease. The highest exchange rate, as observed in the data, appears to be around 0.0977, while the lowest drops to approximately 0.0966. This shows that while there may be short-term fluctuation, the overall long-term trend is stable.
Seasonality or Recurring Patterns in Exchange Rates
The dataset provided is not sufficient enough to ascertain any clear seasonal or recurring patterns. In an accurate scenario, one would need data extending over a year or various years to identify noticeable seasonal patterns confidently. Moreover, the five-minute intervals considered may not provide the most reliable insights into recurring patterns. Analysing hourly, daily, or monthly data might yield clearer patterns.
Identifying Outliers
From the dataset, it is discernible that exchange rates mostly remain in the range of 0.0974 +/- 0.0001. Any divergence from this can potentially be viewed as outlier observations. Nonetheless, even these diversions do not diverge drastically from the median and tend to fall back towards the average rate quickly. Thus, it's clear that the exchange rate remains relatively stable over the given timeframe and does not markedly vary.
Note: Due to the robust nature of currency markets, brief fluctuations in exchange rates can often happen due to the influence of many socio-economic factors including geopolitical situation, market sentiment, economic indicators, etc. However, without specific instances in the provided dataset, the exact causes of these disturbances could not be identified.
![Stringent Exchange Rate Fluctuation Observed in GHS Market](http://currencymart.net/images/news/ghana-cedi/2024-05-14/img-5hBswNq0PDl7QVFmg6JeqgTM.webp)