2024-05-17 Moroccan Dirham News
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2024-05-16
Summary of Yesterday
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Understanding the overall trend of the exchange rates
After carefully analysing the given currency exchange rate data, a slight upward trend can be seen in the MAD exchange rate from beginning to the end of the given period. The rate started at 0.13704 and ended at a slightly increased rate of 0.13686. This suggests that, on average, the MAD has somewhat strengthened in relation to the compared currency over this period. Note that although the increase may seem small, such minor fluctuations can have substantial implications in currency trading depending on the volume of currency being exchanged.
Identifying any seasonality or recurring patterns in the changes of exchange rates
Based on the timing and values given in the data, it is challenging to identify any clear seasonality or recurring patterns in the changes of the exchange rates. There doesn't seem to be a consistent specific time of the day where the rate noticeably spikes or falls, indicating no clear intra-day seasonality. This may be due to the various complex factors that can influence exchange rates during a regular trading day.
Noting any outliers, or instances where the exchange rate differs significantly
In terms of outliers, the dataset overall remains quite stable with the MAD exchange rate staying within 0.136 and 0.137 range. However, there are occasions where the rate experiences small spikes or falls (such as the rate falling to around 0.1366 around the 10:20 timestamp). These fluctuations, though relatively minor, do stand out in the overall stability of the rates during the given period.
In conclusion, while there are minor fluctuations and a slight upward trend in the exchange rates, the data does not present any clear patterns, seasonality or notable outliers within the given time frame.
![Significant Shifts in MAD Exchange Rates Witnessed within a Day](http://currencymart.net/images/news/moroccan-dirham/2024-05-17/img-PNXosKnT2sqvJghWvuLcefzN.webp)