2024-05-02 Indian Rupee News
2024-05-01
Summary of Yesterday
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Introduction
This analysis was conducted based on the hourly exchange rates for the Indian Rupee (INR) for the period starting on May 1, 2024. The available data shows the exchange rate at 5-minute intervals, providing us with an extremely granular view of the fluctuations in this currency's value.
Overview of the Overall Trend
The overall trend for the exchange rate during this period appears to be fairly stable, with only slight variations. Initially, the exchange rate hovered around 0.01651, and then it slightly went down to about 0.01644 by the end of the period. This shows a slight depreciation trend in the INR currency over the period under review.
Identification of Seasonality or Recurring Patterns
The data does not show any clear seasonal or recurring patterns in the short-term fluctuation of the exchange rates. The observed variations appear to be random rather than cyclical, suggesting that they may be influenced more by immediate market circumstances rather than repetitive patterns.
Outliers in the Dataset
There are no significant outliers in the provided sample. All of the exchange rates fall within a very narrow range near the mean (is about 0.01648), making any significantly divergent values (outliers) absent from this dataset.
Conclusion
This in-depth examination of a relatively stable dataset supplied valuable insights into the exchange rate history. However, to provide valuable predictive information or determine whether the present dataset's trends and patterns meet long-term patterns, we would need to review a more extended period of data that encompasses various macroeconomic conditions and events. Such comprehensive analysis would better predict future forex trends and provide enhanced insights into the patterns and outliers discovered in these data.