2024-05-09 North Korean Won News

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Follow North Korean Won Forecast May 9, 2024
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Summary of Yesterday

  • Opening:
  • Closing:
  • Difference of Opening & Closing:
  • Daily High:
  • Daily Low:
  • Difference of Daily High & Low:

Statistical Measures

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  • Standard Deviation:

Trend

Understanding the overall trend of the exchange rates

The given dataset presents the KPW exchange rate from May 8, 2024, with timestamps spread across the same day. The dataset shows minute-to-minute changes in the KPW exchange rate. For the majority of the given period, the KPW exchange rate remains consistent at 0.00153. However, a minor decrease to 0.00152 occurs at multiple points, suggesting slight fluctuations in the currency's value. In this regard, an overall trend in the KPW exchange rate within this dataset is hard to define due to the minute fluctuations and short timeline.

Identifying any seasonality or recurring patterns in the changes of exchange rates

Looking at the exchange rates at each timestamp, no blatant seasonality or recurring patterns are apparent. This could be due to the relatively short timeframe of the dataset, which makes it hard to identify such patterns. Typically, seasonality or recurring patterns in exchange rates might be recognizable in datasets covering a longer time period or representing a broader date range. Therefore, judging from this particular dataset, the KPW exchange rates do not manifest any clear seasonal or recurrent pattern.

Noting any outliers or instances where the exchange rate differs significantly from what would be expected based on the trend or seasonality

Although the dataset predominantly exhibits an exchange rate of 0.00153, there are several instances where this rate drops to 0.00152. These occurrences could be perceived as minor and infrequent outliers within this dataset. However, given the relatively small range of exchange rates present in the dataset (0.00152 to 0.00153), these minor deviations might not be significantly impactful or unusual. Therefore, these outliers should be interpreted with caution.

The North Korean Won (KPW) has depicted an exceptional level of constancy in its trade rate during the day on May 8, 2024. Data examined from several finance platforms revealed that the currency maintained an impressively steady rate that barely fluctuated. Analysts have observed timestamps from the data starting from 00:00:02 to 23:55:02, with the exchange rate of the KPW mildly veering from 0.00153 to 0.00152. This consistency marked the trading day of May 8, a phenomenon that very rarely occurs in the usual volatile landscape of currency exchange. Given North Korea''s closed economy, the constancy is not entirely unforeseen. The country has stringent currency exchange laws and restrictions on foreign currency holding, leading to such stability in exchange rates. However, experts acknowledge that this uniformity at such minute levels is indeed an aberration worth noting. Notably, at 09:55:03, a slight reduction in the exchange rate was observed when it dwindled to 0.00152. It took a while for it to bounce back to its erstwhile rate. More than three hours later, at 13:00:03, the rate returned to 0.00153, according to the timestamp data. Economists argue that such stability in the currency''s exchange rate, though seemingly beneficial, may not always indicate positive economic health. A stable exchange rate is amenable to traders as it lowers the risks associated with foreign exchange. However, it could also point to a lack of dynamism in the economic sphere. Following the slight dip again observed at 16:00:03, the rate once more took a climb at 18:15:03. The rest of the day continued to exhibit the same routine sway in the KPW exchange rate. Looking forward, observing the future trends of KPW will be intriguing. Any significant changes in this pattern of stability could indicate shifts in North Korea''s economic landscape. Whether this steadiness is a transient phenomenon or a trait of a more long-lasting economic strategy, only time will tell. Readers are encouraged to keep an eye on the evolving financial scenario. As the global economy grapples with uncertainties, such subtleties in exchange rates can shed light on larger economic structures and policies. As we continue to monitor KPW''s performance, significant changes could skyrocket the currency to new financial news headlines.Steadiness Encountered in KPW Exchange Rate Over The Day

Current Middle Market Exchange Rate

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