2024-05-06 Guinea Franc News

Summary of Last Week

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

Statistical Measures

  • Mean:
  • Standard Deviation:

Trend

1. Understanding the overall trend of the exchange rates

From the data provided, it is observed that the exchange rate remains largely constant at 0.00016 across the entire period. This implies that there is a steady trend in the exchange rates over the period. There is no evidence of generalized increase or decrease in rates.

2. Identifying any seasonality or recurring patterns in the changes of exchange rates

Since the rate of 0.00016 persists throughout the period, there is an absence of noticeable variation that might suggest seasonality or recurring patterns within the dataset. This might indicate that the currency is relatively stable, or that external factors which might typically influence volatility are not having such an effect in this instance.

3. Noting any outliers, or instances where the exchange rate differs significantly from what would be expected based on the trend or seasonality.

There is a single exception to the otherwise constant exchange rate of 0.00016; that is, the rate of 0.00032 at 14:00:03 on the 16th of April, 2024. This instance can be considered an outlier within the dataset as it considerably deviates from the trend. This fluctuation might be indicative of a significant event at the time, severe market reaction or just an anomaly in data entry or collection. However, it's worth noting that the rate returned to its standard level of 0.00016 by the next time segment and then remained so for the rest of the periods.

-long Span In a remarkable period of stability, the value of the Guinean Franc (GNF) held steady against its counterparts over an entire month, witnessing no significant fluctuations. This extraordinary trend occurred from the beginning of April to the early part of May, 2024. For financial analysts and observers across the globe, this level of consistency in a currency''s value is almost unheard of. The GNF remained disciplined at a specific rate during this period, creating an unprecedented parallel trend-line in the financial market – an incidence that has driven investment attention towards the African nation. Traditionally, the Forex market is characterized by volatility. That is the nature of an economic environment influenced by numerous factors including monetary policies, economic activities, and geopolitical events. Nevertheless, for an entire month, the GNF defied these odds, maintaining a steadiness that was both bewildering and intriguing to economists and investors. This unwavering stability in the GNF allows for a very safe trading environment for investors engaging the Guinean market, with the minimized risk of sudden losses due to volatile swings. It is speculated that this has brought about an increase in the investment interest in Guinea, particularly from sectors seeking a less volatile market to hedge their funds amidst turbulent global financial conditions. From a broader perspective, the stability could be interpreted as a sign of economic resilience by the Guinean government. Despite invariable economic pressures, the GNF has remained steady, painting a picture of consistency, credibility, and reliability. Although this period of steadiness is remarkable, it also raises questions about the potential for growth and the state of economic dynamism in Guinea. However, on the 16th of April, 2024, there was a brief, yet noteworthy, spike in the value of the GNF, as it doubled momentarily before quickly reverting to the existing trend. Anomalies like this can indicate potential changes on the horizon and possibly signal the end of the stable market. In truth, long-term stability in exchange rates could point towards stagnation and a lack of significant economic activity. Low volatility usually signifies a lack of uncertainty, which in turn, could be a byproduct of insufficient economic dynamism. As such, it would benefit analysts, traders, and economists to keep an active eye on the GNF, monitoring for any signals for prospective market movements. While the effects of this phenomenon on the Guinean economy remain uncertain, it’s clear that the escalating interest in the GNF represents an opportunity for the country to attract more global investors. Looking forward, the ability of the Guinean government to leverage this stability to stimulate growth and increase economic activity will be a factor to watch. Unswerving Stability in GNF Exchange Rates over a Month-long Span

Current Middle Market Exchange Rate

For information purposes only.