2024-05-14 Nakfa News
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2024-05-13
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
Understanding the Overall Trend of Exchange Rates
Upon evaluating the provided dataset, I observed that the exchange rates have fluctuated throughout the period under review. However, overall, it exhibited stability with minor variations. The exchange rate remained within the 0.0911 to 0.09124 band.
Identifying Seasonality or Recurring Patterns
In terms of seasonality or recurring patterns, the exchange rate doesn't appear to follow a clearly discernable daily pattern. The oscillations between the highs (0.09124) and lows (0.0911) are quite sporadic, with no obvious cyclic behaviour around specific times of the day.
Noting Any Outliers
From the given dataset, no significant outliers have been detected. An outlier, in this context, would be a significant deviation from the average exchange rate, which did not occur in the period under study. The exchange rate oscillated within a very tight band, around a central range, which indicates relatively stable conditions.
It should be noted that this analysis is a simplistic overview. Comprehensive analysis may require tools like statistical tests, time series decompositions and more complicated econometric techniques to uncover deeper insights or forecasts. Since it was requested not to consider such factors, they are not included in this analysis.
![Steady ERN Exchange Rates Signal Market Stability](http://currencymart.net/images/news/nakfa/2024-05-14/img-Tjz5PYgTAZJqh9bRKOUIfqlh.webp)