2024-05-17 Ngultrum News
![Currency mart logo](../../../images/blog/currency-mart-logo.png)
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
Overall Trend of the Exchange Rates
The data depicts a relatively stable trend with regards to the exchange rates over the period. Although the rate fluctuated slightly between 0.01644 and 0.01647 in the initial data points, it remained fairly steady for most of the time series. Towards the end of the series, a minor decrease in the rate was observed down to 0.0163. However, such minimal fluctuations seldom result in any significant economic impact; therefore, the overall trend can be considered mostly horizontal or stable. The rates neither show any substantial increase nor decrease.
Seasonality or Recurring Patterns
The dataset doesn’t reveal the presence of any clear-cut seasonality or recurring patterns. The fluctuations in values are minimal and they seem to occur rather randomly than on a seasonal or periodical basis. Forex markets might present intra-day patterns due to the opening and closing hours of different global markets, but without knowledge on the origin of these time zones, it's not possible to discern such patterns at this time.
Notable Outliers in the Data
The dataset does not appear to contain any significant outliers. As mentioned before, all fluctuations exist within a very narrow range and are relatively minor when viewed on a larger scale. Therefore, there's no rate that differs significantly from the general trend. Even the decrease towards the end of the dataset lies within the observed fluctuation range, and thus wouldn't likely be considered an outlier.
In conclusion, the exchange rate remained mostly stable throughout the provided historical period, with only slight fluctuations observed. No clear seasonality or recurring pattern has been identified, and no major outliers were present in the data. It's always important to keep in mind that in the real world, several external factors could affect the exchange rates not represented in this data, such as economic news, geopolitical events, or shifts in market sentiment.
![Steady breadcrumbs leading to BTN](http://currencymart.net/images/news/ngultrum/2024-05-17/img-wTfcTRAQeRWA8ttDT56h5RZz.webp)