2024-04-16 Namibia Dollar News

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

Overall Trend Analysis

Based on the time series data, the exchange rate for the NAD doesn't show a significant overall upward or downward trend. The rate starts at 0.07276 at the beginning of the dataset and ends at 0.07302. While there are fluctuations throughout the dataset, the overall trend seems to remain relatively stable with minor fluctuations.

Seasonality and Recurring Patterns

Given that the data is from a single day, it is challenging to identify any meaningful seasonality or recurring patterns. For such an analysis, we would need data spanning across multiple days, weeks, or months. However, within the day, the data does not seem to display any clear-cut recurring patterns. The fluctuations observed in the exchange rates appear random rather than repeating at regular, identifiable intervals.

Outliers Analysis

When observing the exchange rates, they seem to remain within a relatively narrow range. The highest recorded rate is 0.0732 and the lowest is 0.07249. The difference between these prices indicates there's a minor variation in the rate. In this data set, an outlier would be a price that falls well outside this range. However, no such outliers have been identified within this data set.

In conclusion, within the given data set, the NAD exchange rate remains relatively stable within a narrow range, showing no clear up or down trend. Seasonality or recurring patterns are not visible within this one-day data set, and no significant outliers have been observed.

h1> The financial sector experienced an uneventful day on 15th April 2024, with the Namibian Dollar (NAD) showcasing stability with minor fluctuations over 24 hours. The data records regular changes in NAD exchange rates from midnight to midnight and presents a well-balanced picture of the currency''s performance. The NAD started the day at a value of 0.07276 and ended slightly higher at 0.07302. Although the change might appear minor at first glance, in the vast world of foreign exchange, even a slight variation can translate into significant gains or losses. Such minor alterations can provide opportunities for seasoned investors to capitalise on. Throughout the day, the NAD experienced its lowest dip at 00:15, when it hit 0.07271. In contrast, the peak value for the day was seen at 15:10, when the rate soared to 0.07309. These precise moments in time attract high-stake forex traders who strategically plan their trade actions around such peaks and troughs. Interestingly, the NAD maintained a consistency in its exchange rates with minimal fluctuations. A justifiable inference from this occurrence is that both the domestic and international economy remained relatively stable during the monitored period. Stability is crucial in currency markets as dramatic swings can lead to economic recessions or hyperinflation. The exchange rate''s slight increase suggests higher demand for NAD on the global forex market. The cause might be linked to increased foreign investments into Namibia or a stronger economic performance by the country. However, further analysis would be required to definitively pinpoint the cause. Despite minimal changes seeming mundane, this stability in the forex market is often appreciated by investors who seek predictability and control over potential outcomes. Volatile markets can deter investors, hence the steadiness of the NAD during the 24-hour period can be considered an asset rather than a disadvantage. Moving forward, investors should closely monitor related financial news, economic events, and policy announcements that might impact the NAD''s performance. Will the NAD continue this trend of steadiness, or will drastic fluctuations return to set the tempo? The patterns observed herewith should help investors strategize and prepare for the dynamics of the upcoming trading days. In conclusion, despite the seemingly uneventful fluctuation of the NAD exchange rate over this 24-hour period, the stability of the currency holds significance for investors and the economy as a whole. Future market trends remain uncertain at this point, making it imperative to stay informed and agile.Stability in NAD Exchange Rates Observed Over 24 Hours

Current Middle Market Exchange Rate

For information purposes only.