2024-05-21 Pakistan Rupee News
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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
1. Understanding the Trend in Exchange Rates
From the provided dataset, the overall trend appears to be relatively stable. Majority of the exchange rates revolve around the 0.0049 mark denoting a narrow range oscillation. No noticeable increase or decrease in the rate is observed. However, it starts to decrease lightly at 06:00 (from 0.00491 to 0.00489), before it falls slightly lower to 0.00488 from 09:10 onwards. Nevertheless, the rate reverts back to 0.00489 and maintains this level moderately with a few minor dips. Overall, exchange rates predominantly hover around the 0.0049 mark with occasional marginal dips.
2. Seasonality or Recurring Patterns
Regarding the second goal, it is difficult to identify specific seasonality or recurring patterns in the data purely from the bare numbers. For a comprehensive understanding of recurring patterns or seasonality, it is essential to analyze data entries over a longer period and across different seasons. This will be able to provide insights on how the exchange rate varies according to different times of the year, week, or day. However, within the dataset provided, no obvious seasonality or recurring pattern is observed owing to the tightly knit range of values within a short time span - a single day.
3. Outliers in the Dataset
Referring to the third goal, your dataset appears not to show any significant outliers or surprises. The exchange rate movement is quite consistent and remains within a very close range of values, mostly around the 0.0049 mark. There are only minor fluctuations which seem quite regular in such financial data. The lowest rate observed is 0.00488 and it only occurs a few times. In a nutshell, the dataset doesn't seem to contain any extreme outliers or unexpected variances.
Please note this analysis has not taken into account any external factors - such as financial news, macro-economic events or the influence of market/office hours, as per your instruction. Kindly note that such factors can indeed significantly affect the value, stability and trend of the exchange rate.
![precedented Stability Observed in PKR Exchange Rates
It was an ordinary day in the world of finance, with the usual fluctuations and risks, until the PKR exchange rates took an interesting and somewhat unusual turn. On May 20, 2024, for a period of nearly 24 hours, the Pakistani Rupee demonstrated an exceptional stability that proved to be a rare event in the field of exchange rates and financial markets.
Throughout the aforementioned period, the PKR exchange rates hovered around 0.0049. Kicking off the day at 0.0049, barely any variation was observed throughout the day, save for minor fluctuations to 0.00491 and 0.00489. However, these were short-lived and the rate quickly realigned to the anchor value of 0.0049.
Such constancy is uncommon in the world of forex trading, where values fluctuate frequently due to a multitude of factors like economic indicators, geopolitical events, and market sentiment. Hence, such a sustained steadiness in the exchange value of PKR raises several questions as well as speculation about its causes and its potential effects on the larger economy.
While various speculations are floating around, one possible explanation for this stability is a balanced state of buying and selling the currency. This could be an indication of perceived economic stability or a lack of significant financial news influencing investors](http://currencymart.net/images/news/pakistan-rupee/2024-05-21/img-FDV8bjVdjMlqguo6X14D3YBK.webp)