2024-05-21 Nakfa News
2024-05-20
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
Analysis of the Exchange Rates
The provided dataset includes time series data of ERN (Eritrean Nakfa) exchange rates measured at different timestamps throughout the day on 20th May 2024. Here are the findings after a detailed analysis of the data.
1. Overall Trend of the Exchange Rates
Upon reviewing the data, there appears to be a slight upward trend in the exchange rate over the course of the day. When the day began at 00:00:02, the exchange rate was 0.09068, and by day's end at 23:55:02, it had increased to 0.09093. This denotes a very marginal yet consistent rise in the currency's value. However, the fluctuations within the day have been minimal, and the exchange rate has remained in a close range, suggesting a generally stable currency value throughout the day.
2. Seasonality or Recurring Patterns in the Exchange Rates
In the given dataset, it is quite challenging to identify any specific seasonality or recurring patterns within a single day's data due to the short time-frame. For a stable currency such as ERN, fluctuations within a single day are often minimal and random. However, it can be noted that there are multiple instances when the rate increases slightly, followed by a subtle decrease, creating somewhat a wavy pattern, but this doesn't necessarily indicate a strong recurring trend or seasonality.
3. Outliers in the Exchange Rates
When observing the exchange rates throughout the day, no significant outliers were detected. Most of the rates, from the start to end of the series, consistently range within a very close band, demonstrating very slight variance when the rate changes. Therefore, we can infer that the ERN exchange rate remained rather stable on the 20th May 2024.
