2024-05-21 Kenyan Shilling News

Summary of Last Month

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

Statistical Measures

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  • Standard Deviation:


Overall trend of exchange rates

The data provided on the exchange rates (KES) shows a generally stable trend for most of the period. The exchange rate starts at 0.01046 and remains consistent throughout the starting period, till a noticeable drop to 0.01035 is observed. It remained stable again at this rate for a significant period until it slightly rises to 0.01039 and then reverts back to 0.01035. This pattern continues till we note a significant increase at the end of the provided period where the exchange rate increases to 0.01063 and remaining stable at 0.01065 towards the end of the period. However, no overall continuous increase or decrease trend is noticeable over the period as such.

Seasonality or recurring patterns

In terms of seasonality, no clear or distinct seasonal or recurring patterns can be observed from the provided dataset. The data provided do not show any regular intervals of increases or decreases that could be ascribed to a seasonal pattern.

Outliers in the dataset

The dataset provided does not seem to have any significant outliers, or instances where the exchange rates deviate noticeably or significantly from the general trend. The most significant change is the rise from 0.01036 to 0.01063 near the end of the period, however, this alteration in trend is not significant enough to be classified as an outlier.

s In the world of finance, nothing is as constant as change. However, the Kenyan Shilling (KES) has managed to maintain an admirably steady course over an extended period. From the early hours of May 20, 2024, Kenyan Shilling exchange rates remained broadly stable, with a few notable spikes observed. The time series data observed paints a picture of an economy in equilibrium despite the constant fluctuations experienced by most markets. The data monitored from midnight on May 20, 2024, shows the KES remaining steady at 0.01046 during the early hours before experiencing a slight decrease to 0.01035 by 1:15 am. Most noteworthy is the introduction of the late-night peak to a more elevated 0.01065, sustaining this level way past midnight of the next day. This particular increase in exchange rates represents the resilient nature of the KEN in navigating the unpredictable currents of the financial seas. Why is there such significance with this apparent stability? In the fast-paced world of financial market trading, consistency can sometimes signify an underlying strength within an economy. When a currency, such as the KES in this scenario, is capable of holding steady even amid global economic fluctuations, it often denotes solid economic fundamentals. These fundamentals might include robust political stability, sound monetary policy, or a resilient export sector. For potential investors, possibly the traders managing forex reserves for corporations seeking to invest in Kenya, such stability can provide a sense of predictability and reduced risk on return on investment. In addition to the high level of economic stability, the temporary spikes offer opportunities for savvy traders. Exchange rate adjustments, like the one observed at 19:05 on May 20, indicate the market’s real-time reaction to significant events, like policy announcements, or shifts in trade dynamics. Investors who bet on these minor fluctuations stand to make a substantial return on investment, provided they preempt these movements correctly. In such a scenario, the late-night peak mentioned earlier would likely represent an opportunity for forex traders to take advantage of the margin between the baseline and the peak rate. In the coming days, analysts and investors will closely monitor the KES exchange rate to understand whether the stability will continue or if it was an anomaly in an otherwise volatile market. The late-stage spike and the apparent new stability level could suggest more dramatic shifts in the future, potentially creating new opportunities for high-risk, high-reward trading. To sum up, the KES’s performance in this observation window of one day provides both a tale of consistency and waves of change which are both captivating. The investment world will undoubtedly be keen on noticing how these exchange rates trends progress moving forward. As always, only time will reveal the full story.KES Exchange Rates Maintain Stability Amid Notable Spikes

Current Middle Market Exchange Rate

For information purposes only.