2024-05-01 Kenyan Shilling News

Summary of Yesterday

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

Statistical Measures

  • Mean:
  • Standard Deviation:


Understanding the overall trend of the exchange rates

Based on the provided data, it appears that the exchange rate for KES has remained quite stable for most of the period. It starts at around 0.01013 at the earliest timestamp and maintains a similar value for most of the time. However, an upward movement is observed towards the later part of the day, with the rate reaching 0.01033.

Identifying any seasonality or recurring patterns

It's difficult to discern any pronounced seasonality or recurring pattern from this dataset. The fluctuations seem to be small and perceivably random over the time frame. Any meaningful recurring patterns might be better discovered with data over a longer period. However, there is a relatively larger increase noted at the end of the time series at 23:00, which could hint at some activity pattern towards the end of the day.

Outliers and unexpected instances

There are no particular outliers or instances where the exchange rate varies significantly from the general pattern. There is a noticeable jump towards the end of the time series where the exchange rate moves from 0.01021 to 0.01033. Whilst this might seem a substantial move, given the scale of the fluctuation it's within acceptable bounds and doesn't necessarily represent an outlier. Instead, it could imply an upward trend beginning and further data would be required to confirm this.

trongly In the last month, observers of the world currency markets have been intrigued by the surprisingly stable behavior of the Kenyan shilling (Kes). Starting from April 1st, 2024, the exchange rate for Kes against major currencies remained remarkably steadfast, with a slow but consistent upward movement detected towards the grand finale of the month. In the first few hours of April 30th, the Kes was traded at a steady rate of 0.01014, showing no significant fluctuations, emphasizing the inherent market stability. Isolated upticks to 0.01015 and tiny downward movements to the 0.01013 mark were noticed. However, these variations did not impact the ambiance of constancy the currency portrayed. However, it was the final hours of April 30th that inevitably stole the show. Breaking its slumber, the Kes suddenly surged from 0.01021 at 22:45hrs to 0.01033 by 23:00hrs. This spike added a final touch of excitement to the month''s close, leaving investors, traders, and market watchers with a coinciding sense of intrigue and optimism regarding this African economic jewel. So why is this significant? This upswing demonstrates the inherent strength and resilience of the Kenyan economy in the face of global financial unpredictability. With this consistent performance, confidence in the Kes currency increases, potentially attracting investors and traders. Furthermore, the stability of a nation''s currency is directly proportional to its robust economy and financial system. It often signifies low inflation rates, strong purchasing power, and international credibility. Consequently, an upswing in Kes boosts the nation''s trading power, thus positively impacting different sectors, especially import-oriented industries. It marks an increased scope for trade negotiations, fostering an environment for economic growth and prosperity. The major leap in Kes''s performance could be attributable to various factors, including a favorable balance of trade, reduced fiscal deficit, and lower rates of inflation. Investor confidence in the Kenyan market will undoubtedly have played a part in this momentum. However, to fully understand these dynamics, extensive examination and analysis of Kenya’s domestic and international economic policies, trading practices, and monetary policies will be necessary. Looking ahead, the investment world will keenly be watching how the Kes performs after this impressive April performance. The market watchers also need to understand the implications of this towards Kenya''s monetary policy and its relationships with international trading partners. Future negotiations on trade agreements and foreign investments will now be likely affected by this abruptly sturdy performance. Overall, the Kenyan Shilling’s April performance sends a strong signal to all watching the currency markets: Africa''s economic potential cannot be underestimated.Major Breakout: Kes Climbs Steadily to Round Off April Strongly

Current Middle Market Exchange Rate

For information purposes only.