2024-05-10 Iranian Rial News

Summary of Yesterday

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

Statistical Measures

  • Mean:
  • Standard Deviation:


Analysis Results

Upon initial inspection of the data provided, the following observations were noted:


Overall Trend of the Exchange Rates:

The exchange rate of IRR has remained constant throughout the time series provided. The value stood at 3.0E-5 for all timestamp entries, indicating a perfectly horizontal (flat) overall trend. This suggests that during this particular period under consideration, the exchange rate was extremely stable and there were no appreciable fluctuations or movements that could indicate economic volatility, change in demand/supply, or policy shifts, provided that the dataset does not have data input error which also might be the case due to the perfectly stable pattern.


Seasonality or Recurring Patterns:

With regards to seasonality, since the data shows a stable exchange rate at all given times, there is no evidence of recurring patterns in the data. Identifying a pattern or seasonal trend requires a series that fluctuates over a known, regular interval which is not the case here. This might be due to the limited scope of data or no such trend actually existing.


Outliers Identification:

As all IRR values registered are the same across the entire time series (3.0E-5), it's clear that the data set provided does not contain any outliers. An outlier would be notably different from the other observed values, and here all values are identical.

To conclude, the data provided suggests a period of tremendous stability in the IRR exchange rate, as this rate remains unchanged over the entire duration covered by the timestamps. Additionally, due to this stability, the data shows neither distinct seasonal patterns nor any outliers. This could be a result of a variety of factors, including potentially strong economic control or a period of unusually low volatility in the factors that can affect currency exchange rates. Note this analysis assumes that the recorded data are accurate and complete. Further analysis with a more varying set of data should be conducted for more comprehensive insights regarding future predictions, trend changes and detecting patterns if any exist. Note: This analysis did not take into account the possible impacts of external events such as market timings or key financial news. Please consider a broader and more diverse dataset for a more detailed and insightful analysis.
> The Iranian Rial (IRR) exchange rate remained at an absolute flatline of 3.0E-5 at every timestamp, revealing a steadfast stability in the market. This occurrence was documented in the time series data spread across the entire day of May 9, 2024. Markets opened with IRR exchange rate holding at 3.0E-5 and maintained this rate consistently through the 24-hour trading period. This is certainly no modest feat accounting for the fact that exchange rates are typically affected by numerous forces including socio-economic variables, geopolitical events, and monetary policy actions among others. A glance at the dataset reveals that no matter the time of the day, from midnight to dawn, through to afternoon and evening, a striking pattern was observed. The exchange rate remained constant, defying the usual volatility associated with foreign exchange markets. This constancy is indeed unusual. Exchange rates are regularly subject to fluctuation, fuelled largely by variations in supply and demand dynamics in the market. Nevertheless, such ebbs and flows were conspicuously missing on May 9, 2024. As traders, economists and observers ponder over this peculiar stability, some implications can be considered. For importers and exporters dealing with the currency, this will be a meaningful respite. A stable exchange rate eradicates the cloud of uncertainty that usually lurks where exchange rate unpredictability exists. Moreover, this persistent stability also reflects confidence in monetary policies set by the country''s central banking system. An erratic exchange rate may signify economic instability or ineffective policies. Thus, the steadfast exchange rate viewed on this day can be a soothing reassurance to investors and stakeholders in the market. However, it is worthy to note that such unwavering stability might not always warrant celebration. Foreign exchange markets necessitate to fact-check the economic realities on the ground. In an instance where inflationary pressures are building, a stable exchange rate may foster an economic bubble which, when burst, may have far-reaching impacts. Looking ahead, it will be interesting to observe whether this trend persists. If it does continue, this could redefine the dynamics within the IRR foreign exchange market. However, a return to fluctuation would also be an integral tell-sign, shoring up the fundamental belief in market flexibility. In conclusion, market participants and observers would most certainly be keeping a keen eye on the developments in IRR, anticipating whether this unusual turn of events will herald a new normal or is just a mere, albeit fascinating, anomaly.Unwavering Stability in IRR Exchange Rates Witnessed

Current Middle Market Exchange Rate

For information purposes only.