2024-04-22 Guinea Franc News

Summary of Last Week

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

Statistical Measures

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  • Standard Deviation:

Trend

The data set provided is time-series data of exchange rates (GNF) at various timestamps. The data range from 22 March 2024 to 19 April 2024. It is important to note that the analysis carried out is context-free, meaning that no external factors such as market opening/closing hours, weekends/holidays, or the release of key financial news and reports are taken into account.

1. Overall Trend Analysis

The overwhelming majority of the exchange rate data points sit at 0.00016. This is consistent throughout the time period in question, indicating a highly stable exchange rate. However, on 16 April 2024, there is an anomaly where the exchange rate doubles to 0.00032 - this is the only instance in the data set where the exchange rate deviates from 0.00016. Aside from this, the rates remain constant, suggesting a strong steady state without any visible increasing or decreasing trend over the given period.

2. Seasonality and Recurring Patterns

Given the very stable nature of this exchange rate data, it's challenging to identify any seasonality or recurring patterns. However, it is noteworthy that the spike to 0.00032 observed on 16 April 2024 occurs during a 14:00 timestamp. There are no recurrent fluctuations or obvious patterns associated with specific times or dates, and the rest of the rates consistently remain at 0.00016 throughout all times of the day and week. Therefore, no identifiable seasonality or regular patterns can be discerned from the provided data.

3. Outliers

The only outlier in this data set is the datapoint on 16 April 2024 at 14:00, where the exchange rate doubles to 0.00032. This is significantly different from all other data points recorded during the period of observation. All other recorded exchange rates remain consistently at 0.00016, making this singular datapoint a clear anomaly in the data set. This outlier does not follow the overwhelming prevailing stability of the exchange rate and significantly diverges from the expected rate based on the steady trend observed.

ts In an era of financial instability and market oscillations, the exchange rate of Guinea franc (GNF) has demonstrated remarkable consistency and solidity. Over a series of timestamps through mid-April 2024, the GNF preserved an unwavering exchange rate, holding firm against the unpredictable riptides of the global financial ocean. During the time period from late March to mid-April, the GNF remained incredibly stable, with an exchange rate that sat solidly at 0.00016. This consistency is virtually unheard of given the various economic factors at play globally. In the face of dynamic financial conditions, the value of the GNF hasn’t wavered, illustrating an almost unshakeable stability. This reassuring steadiness comes at a time when many countries face economic uncertainty and numerous challenges including inflation concerns, escalating geopolitical tensions, and lingering effects of the pandemic. Yet, the Guinea franc’s steadfast currency rate seems to rise above these volatile elements, standing as an interesting outlier in these pressing times. The full implications of this financial stability are far-reaching. A solid exchange rate can potentially foster a favorable environment for foreign investments as it minimizes concerns about potential losses due to currency fluctuations. It lends itself to financial security, offering predictability in an otherwise unpredictable market and establishing a sound base for future economic planning both nationally and internationally. Despite this solid performance, it remains critical for investors and financial stakeholders to maintain a vigilant watch for any changes. On April 16, at 14:00, a staggering exception interrupted the GNF''s unyielding stability. Its value spiked to 0.00032, doubling in a shocking turn of events. This sudden rise serves as a reminder of the inherent volatility that can emerge in even the most stable currencies, requiring investors to remain well-informed and adaptive. Though short-lived, this event showcases the vital importance of understanding how different market factors can drive currency values. The GNF''s sudden rise, although promptly corrected, reflects a myriad of potential driving factors, such as unexpected shifts in national economic performance, changes in international trade relationships, or a rise in investment from foreign entities. Economists and financial experts hold a keen interest in unravelling the many compelling intricacies related to the GNF''s consistent performance. As we progress further into 2024, watchers are eager to observe whether the Guinea franc gives in to the traditionally fluctuating nature of global economics or continues to hold its own unique path of stability. Henceforth, keeping a close eye on how the GNF evolves in the weeks and months ahead will be of paramount importance for not just Guinea and its region, but also on a global scale, as it could potentially influence investment decisions worldwide. After all, in the volatile world of finance, the stability of the GNF is not just news – it’s unmissable.Steady Hold for GNF Exchange Rate Amid Fluctuating Markets

Current Middle Market Exchange Rate

For information purposes only.