2024-05-21 Malaysian Ringgit News
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2024-05-20
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
Overall Trend of Exchange Rates
The overall trend of exchange rates can be analyzed by examining the changes in the MYR exchange rate over the period. Our analysis shows a gradual increase in the exchange rate from the beginning towards the end of the provided period. It starts from 0.29041 to a peak of 0.29096 before falling to 0.29073 at the end of the period. This indicates an overall upward trend of the exchange rates over this period. Note that such trends are subject to various factors and should not be used as the sole criteria to predict future rates.
Seasonality or Recurring Patterns
From the provided data, it is difficult to note any distinct recurring patterns or seasonality. This could be due to the shorter period covered by the data. Generally, seasonality or recurring patterns in exchange rates might emerge over longer periods and may be influenced by factors such as fiscal and monetary policy decisions and macroeconomic factors which are not considered in this analysis. However, there appears to be some volatility in the exchange rates within the day, with peaks and lows that may suggest some intra-day pattern. These peaks and dips, however, do not appear to follow a clearly discernible pattern.
Outliers Identification
Our analysis did not reveal any significant outliers in the dataset. All data points seem to be within a reasonable range of each other and align with the overall upward trend identified above. An outlier would typically be a value that significantly deviates from the other values, but in this case, the fluctuations in the MYR exchange rate values seem to follow a usual financial market volatility pattern. Nonetheless, careful evaluation is required as the existence of outliers can sometimes be a signal of significant events impacting the exchange rates.
![Steady Growth Detected in MYR Exchange Rates Over 24 Hours](http://currencymart.net/images/news/malaysian-ringgit/2024-05-21/img-1HW4IqGo7WodCUljWZBaK62U.webp)