2024-05-09 Naira 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
There are several observations that can be noted from the time-series data provided regarding the NGN exchange rate from the timestamp of 2024-05-08 00:00:02 to 2024-05-08 23:55:02.
1. Understanding Overall Trend of Exchange rates
The NGN exchange rate appears to be more or less stable. Three unique rates are noted, 0.00099, 0.00097, 0.00098, but the exchange rate does not stay at either for very long and keeps rotating, indicating no upward or downward trend.
2. Seasonality or patterns in Exchange Rates
In this dataset, there's no strong seasonality or regular pattern noticed over the timestamps. The exchange rate does not show a significant change during different parts of the day or during specific intervals.
3. Identification of Outliers
No particular outliers, i.e., instances where the exchange rate deviates drastically from the current trend, can be identified. The exchange rates uniformly revolve around the three noted rates with no extreme changes that stand out exceptionally.
Summary
In conclusion, the dataset indicates relative stability in exchange rates during the period tracked with no significant ups or downs, no seasonal patterns, and no major outliers. It's worth noting that this analysis does not account for external factors like financial news, market activities, or holidays which could impact the exchange rates.
![Consistent fluctuations in the NGN exchange rate](http://currencymart.net/images/news/naira/2024-05-09/img-AyK2ZXPJxD5ttEBddLgMsXcT.webp)