2024-05-09 Malaysian Ringgit News
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2024-05-08
Summary of Yesterday
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Analysis of the Trend of MYR Exchange Rates
After careful review of the provided time-series dataset, a few conclusions can be drawn. Please note that these conclusions only cover the given period and don't account for any external factors like market opening/closing hours, weekends/holidays, or the release of key financial news or reports.
Overall Trend of Exchange Rates
The overall trend of the MYR exchange rates during the period reflected in the dataset indicates a slight increase. The exchange rate started at 0.28976 and ended at 0.28938. Despite minor fluctuations, the trend is relatively stable, with no dramatic increases or decreases. However, given that these changes are relatively small compared to the overall value of the rates, it could also be argued that the rates remained mostly stable over the period shown.
Seasonality and Recurring Patterns
Given the hourly distribution of the dataset, it is difficult to detect any clear seasonal or recurring patterns on a daily scale from the data provided. The repeated fluctuations might suggest some degree of intra-day volatility, but without further data or context, it's challenging to identify a clear pattern or establish the reasons behind this volatility.
Outliers Analysis
Throughout the time period observed, there appear to be no significant outliers; that is, there are no instances where the exchange rate differs significantly from what would otherwise be expected based on the observed fluctuations and overall slight upward trend. The observed fluctuations in the exchange rate seem to conform reasonably well to the trend as described above, which could be seen as indicating a degree of stability in exchange rates during this period.
These conclusions are based solely on the numerical analysis of the provided dataset and do not take into account any additional external factors that might affect exchange rates.
![Subtle Fluctuations Mark MYR Exchange Rate Stability](http://currencymart.net/images/news/malaysian-ringgit/2024-05-09/img-QVzwWgrpTNjSVuITmenL5NaH.webp)