Unprecedented Stability in Kenyan Shilling Exchange Rate Sparks Market Confidence
2024-04-15
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
To conduct this analysis, we begin by breaking down the dataset. Due to the nature of the dataset and the details provided, we'll focus our assessment on specific goals. Namely, we'll look into the overall trend of the exchanges rates, potential seasonality or recurring patterns within these rates, and the identification of any outliers that may exist.
1. Overall Trend of Exchange Rates
Upon evaluating the given dataset, we can see that the Kenya Shilling (KES) exchange rate isn't showing a clear upward or downward trend over the period. Instead, it seems to be oscillating within a relatively tight range, primarily between 0.01049 and 0.01079. This data indicates relative stability in the exchange rate during the course of the day without a noticeable increase or decrease.
2. Seasonality or Recurring Patterns
When it comes to identifying seasonality or recurring patterns, the visualization of this data would be beneficial. However, from the given data, it's challenging to pick out any clear recurring patterns on this specific day. We notice minor fluctuations but they don't necessarily form a recognisable pattern. More data would be necessary to identify any possible patterns with certainty.
3. Identification of Outliers
The dataset does not appear to have any significant outliers at first glance. Most exchange rates oscillate within the mentioned range, with no major spikes or drops. The difference between the highest and lowest rates (0.01079 - 0.01049) is 0.0003, which is not a significant change. Thus, it can be stated that for this particular period, there were not any outliers that would indicate a significant disturbance or anomaly in the exchange rate.
In conclusion, this financial analysis suggests that within the one day, the KES exchange rate was relatively stable and showed minor fluctuations without detectable seasonality or outliers. However, it should be kept in mind that financial markets can be influenced by numerous unpredictable factors, meaning wider data is always more reliable in tracking trends or forecasting future exchange rates.