2024-05-22 Malaysian Ringgit News

Summary of Yesterday

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

Statistical Measures

  • Mean:
  • Standard Deviation:


Overall Trend of Exchange Rates

Based on the provided dataset, the overall trend of exchange rates fluctuates within a range from approximately 0.2903 to 0.2913. It demonstrates that the MYR exchange rate generally remained stable during the period observed. No clear constant increasing or decreasing pattern was detected in the data set.

Seasonality or Recurring Patterns of Exchange Rates

From a preliminary analysis, there does not appear to be any significant seasonality or recurring patterns in the changes of the exchange rates. The data does not show consistent peaks (high points) or troughs (low points) at regular intervals throughout the period.

Outliers in the Exchange Rates Data

An outlier in a financial context usually signifies a significant event or change in conditions. However, given we were asked not to take into account external factors like market conditions, financial news, etc., it seems that there are no significant outliers in this dataset. The exchange rates all stay within a narrow band, and no extreme values seen.

Overall Summary

  • The MYR exchange rates were relatively stable during the observation period, fluctuating within an approximate range of 0.2903 to 0.2913.
  • There were no clear seasonal patterns or trends observed in the changes of exchange rates.
  • No significant outliers or abnormal data points that deviate greatly from the average were detected in the analysis.
Overnight Trade The financial markets experienced significant movements on May 21, 2024, when the MYR (Malaysian Ringgit) currency demonstrated notable fluctuations in its trade value throughout the day. As time series data recorded the shift of MYR''s exchange rate at every five-minute interval for the 24 hour period, market analysts and investors were presented with a compelling study of the financial market''s behavior. The currency started the day with an exchange rate of 0.29066. As the day''s trading went further into the evening, the exchange rate displayed a downward trend, finally settling at 0.29075. Upon reaching midnight, the MYR witnessed an upward trajectory to close the day at 0.29075. Analysts argue that fluctuations of this nature illuminate the sensitivity of national economies to global market trends. In this case, the MYR''s trade value variation is a clear indication of Malaysia''s interconnectedness with the global economy. The slight instability seen throughout the day can likely be attributed to external factors such as international trade and investment dynamics, geopolitical scenarios, and the performance of other major global currencies. The fluctuations, though somewhat mild, were enough to impact various sectors. Investors trading in MYR would have been keenly observing the currency''s behavior throughout the day, recalibrating their investments in line with the changing exchange rate. Mainly importers and exporters dealing with the MYR would have had to adjust their expectations and financial plans to accommodate these market developments. It''s interesting to note that despite a slight dip, the MYR demonstrated a moderate level of resilience. Market experts suggest that it might be indicative of the MYR''s ability to withstand abrupt market shifts and externalities, reflecting positively on Malaysia''s economic strength and stability. Looking ahead, investors and stakeholders in the country will be keeping a keen eye on such movements. Small fluctuations can accumulate to result in significant profit or loss over time. Economists argue that being able to decipher and predict such trends is crucial to achieving successful long-term investment strategies. Prospects for the MYR will largely depend on several imminent factors. On a technical level, economic indicators and their future values, crucial central bank decisions, and developments in significant market sectors will likely influence the MYR''s path. Simultaneously, the currency''s trajectory will inevitably be molded by Malaysia''s macroeconomic health, decisions of its central bank, and unfolding global financial trends. Therefore, investors should maintain a cautious approach and keep an eye on these influencing factors in order to navigate successfully through the future market.MYR Exchange Rate Chalks up Notable Fluctuations in its Overnight Trade

Current Middle Market Exchange Rate

For information purposes only.