2024-05-17 Nakfa 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
1. Understanding the overall trend of the exchange rates
Upon analyzing the given dataset, it is revealed that the exchange rate (ERN) is generally stable throughout the given timestamps. The recorded exchange rates are only fluctuating subtly around 0.09070 to a maximum of 0.09091. This narrow variance indicates overall stable currency exchange conditions during this specific timeframe.
2. Identifying any seasonality or recurring patterns in the changes of exchange rates
It is challenging to pinpoint a clear pattern or seasonality in the given dataset as the fluctuations in exchange rates are too subtle and the data range is not exceptionally wide. Nevertheless, the rates don't seem to show any significant or consistent increases or decreases at specific times of the day or days of the week, indicating that there is no pronounced seasonality involved in the changes of exchange rates within the scope of the given data.
3. Noting any outliers, or instances where the exchange rate differs significantly from what would be expected based on the trend or seasonality
In context to the provided dataset, it is challenging to point out any outliers. All values range within a very narrow band of change (0.09070 - 0.09091), a difference of just 0.00021. This minute change demonstrates that there are no significant outliers that might indicate sudden peaks or drops in the exchange rates. The conditions appear to be steady, with only small-scale fluctuations throughout the timestamps.
![Steady Ascend in ERN Exchange Rates Over the Course of a Day](http://currencymart.net/images/news/nakfa/2024-05-17/img-r2ys88xPY64JQXEBGSB15YGo.webp)