2024-05-21 Indian Rupee News
![Currency mart logo](../../../images/blog/currency-mart-logo.png)
2024-05-20
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
1. Understanding the Overall Trend of Exchange Rates
The dataset includes INR exchange rate data for every few minutes for a single day, namely May 20, 2024. From a broad perspective, the exchange rate for the INR stays relatively stable throughout the day. It starts from 0.01634 at the beginning of the day, and ends at 0.01637 by the end of the day. While there are minor fluctuations throughout the day, it shows a very slight increase in the rate value. But given the minute fluctuations, it can essentially be considered as showing a stable trend.
2. Identifying Seasonality or Recurring Patterns
Within this single day, there is no observable seasonality or recurring pattern. This is largely because exchange rates are affected by multiple factors that can fluctuate throughout a day, such as economic indicators, international trade balances, political stability, and more. Therefore, to truly determine any seasonality or recurring patterns, a broader timeframe would be necessary. It would also require consideration of the aforementioned factors.
3. Noting Outliers
Given the small fluctuations in the exchange rates throughout the day, this dataset does not show any significant outliers. Most of the rate values lie in the range of 0.01633-0.01638. A significant outlier would typically be a value that deviates markedly from the others and can be considered unexpected given the existing trend. But in this case, no such unexpected jumps or drops in the exchange rate are observed.
Please note, this analysis is based solely on the provided dataset and does not consider external factors such as market opening/closing hours, weekends/holidays, or the release of key financial news and reports. Including these factors could potentially add more context and depth to the findings of this analysis.
![Steady Rise in Indian Currency Strength Noted in Recent Exchange Rates Data](http://currencymart.net/images/news/indian-rupee/2024-05-21/img-JIsK314cCzTlvajg6NYemEUV.webp)