2024-05-14 Guinea Franc News
![Currency mart logo](../../../images/blog/currency-mart-logo.png)
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
Overview
Based on the dataset provided, we find that the exchange rate for GNF (Guinea Franc) remains stable at 0.00016 over the specified period. The data does not show any variations across different timestamps. There is a consistency in the trend at each timestamp with no volatility or deviation observed.
Trend Analysis
From a trend analysis standpoint, we don't observe any trend as such since the rates are uniform throughout the data. The GNF exchange rate fixed at 0.00016 could be because of a pegged exchange rate system (the value of the currency is fixed relative to a reference currency), or the data provided might not be volatile.
Seasonality
Given the data, one cannot observe any noticeable seasonality or recurring patterns in the exchange rates as it remains constant over time. The value of 0.00016 does not change at any point throughout the different timestamps provided. Therefore, no meaningful analysis related to seasonality can be extracted from this particular dataset.
Outliers
No outliers can be identified in the dataset since the exchange rate is the same (0.00016) in all recorded timestamps. An outlier in this context would be a significant deviation from this constant rate, which does not occur. Hence, no outliers were detected in this dataset.
External Factors
Due to the consistent nature of the exchange rate in the dataset, it's difficult to analyse the influence of external factors like market opening/closing hours, weekends/holidays, or the release of key financial news and reports. With a constant exchange rate like this, it would appear that these factors have not had a significant impact on the GNF exchange rate.
![Stability Reigns Supreme in GNF Exchange Rate Marathon](http://currencymart.net/images/news/guinea-franc/2024-05-14/img-uIPrLbJKT7eiusyDEqtxLfUz.webp)