2024-05-16 Ghana Cedi News
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2024-05-15
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 of Exchange Rates
Based on a review of the data you've provided, the overall trend of the exchange rate of the GHS shows a general decrease over the period under view. The exchange rate starts at approximately 0.09662, and it trends downwards over the periods ending at about 0.0961, indicating a decreasing trend in the value of the currency.
Seasonality or Recurring Patterns in Exchange Rates
The dataset doesn't directly reveal any apparent seasonality or recurring patterns at a glance. This might be due to the time intervals being relatively short (mostly 5 minutes apart) which would not be ideal for identifying seasonal patterns that typically occur over longer timescales (quarterly, yearly). Another point to consider is the random or unpredictable nature of forex markets influenced by numerous external factors such as changes in economic indicators, geopolitical events, etc., that often lead to a lack of consistent patterns.
Outliers in Exchange Rates
The data presented shows a few potential outliers, particularly where there are sudden jumps or dips in the exchange rate that do not follow the overall trend. For instance, there is a noticeable series of events around the timestamp '2024-05-15 06:20:02', where the rate drops significantly from 0.09653 to 0.09568, well below the general trend of the series. These could be due to a variety of reasons - significant market events, changes in supply/demand, etc.
Please note, factors such as market opening/closing hours, weekends/holidays, and the release of key financial news and reports can often lead to fluctuations and outliers in exchange rates. However, as per your instructions, these external events have not been taken into consideration for this analysis.
![Significant Rollercoaster Movement Observed In GHS Exchange Rates](http://currencymart.net/images/news/ghana-cedi/2024-05-16/img-o5DDAt7Fo5UiB781oNJIzu8g.webp)