2024-05-09 Nakfa 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
1. Understanding the Overall Trend of Exchange Rates:
Upon analysis of the provided ERN exchange rate data, the ERN exchange rate appears to be somewhat stable. The data do not show a significant increasing or decreasing trend over the entire time period. The rate oscillates between approximately 0.09146 and 0.09175, not showing a major fluctuation. This implies a two-way motion which is more or less neutralizing in terms of cumulative change. Therefore, the overall trend can be described as relatively stable.
2. Identifying Seasonality or Recurring Patterns:
A significant aspect of time-series data is identifying if there's a pattern or seasonality, but within the given time frame from this data which is about 24-hours, it is quite challenging to infer any seasonal trends or recurring patterns that might be present in the exchange rate. The data does not portray explicit cyclic behavior for us to infer a specific pattern or seasonality. We would need a larger dataset spanning over multiple days, weeks, or even months to more accurately determine any possible seasonality or recurring patterns.
3. Noting Any Outliers:
Throughout the time-series, there was no discernible instance where the ERN exchange rate deviated significantly from the general trend to be labelled an outlier. The data points tend to hover within a tight range, and we do not observe any values which significantly exceed or fall below the general group of data. Therefore, within this dataset, no notable outliers were detected.
Conclusion:
- The overall ERN exchange rate trend appears to be stable within the provided 24-hours duration.
- No obvious seasonality or recurring patterns could be identified due to the short duration of data.
- There were no significant outliers in the data, with all exchange rates falling within a close range.
![Minor Fluctuations Seen in ERN Exchange Rates](http://currencymart.net/images/news/nakfa/2024-05-09/img-iyK3jauFHzgBwLp5D5E1Jtvu.webp)