2024-04-16 Philippine Peso 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:


1. Understanding the overall trend of the exchange rates

Looking at the time series data from April 15, 2024, the overall trend of the exchange rates shows subtle changes over time. The PHP exchange rate floats narrowly between approximately 0.02423 and 0.02415. This narrow fluctuation range suggests a relative stability in the value of the PHP against the currency in question during the analysed period.

However, despite the overall stability, there are minor fluctuations observed throughout the day. The movements seem to be random and short-lived, reverting back to the mean value rather quickly. The lack of a pronounced uphill or downhill trend means that the exchange rate for the day remained stable.

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

Based on the provided data, it's challenging to detect a clear seasonality or recurring patterns purely from a single day's worth of data. A deeper analysis over a more extended period might provide better descriptors.

However, minor fluctuations are seen throughout the day, hinting at potential intra-day volatility. More data, especially spanning across multiple days, weeks or months, would be needed to confirm the presence of daily seasonality or to identify a pattern.

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

`Outliers, or significant differences from the expected exchange rates based on trend or seasonality, are not easily noticeable in this dataset. The PHP exchange rate stays within a narrow band, and no single data point strays too far from the average rate. This could be a sign of a relatively calm trading day with no drastic news or events influencing the exchange rate.

However, the highest rate for PHP was 0.02424 and was recorded several times throughout the day. Notably, the rate dropped to its lowest (0.02415) once during the day. Despite these minor deviations, the rate didn't exhibit drastic changes from the norm, indicating a lack of significant outliers in this dataset.

n value In the world of finance, even the smallest shifts can signal significant impactful trends. Recent data analysis on the PHP exchange rates unveils a subtle, yet potentially noteworthy downward shift in its value against the base currency. On April 15, 2024, the PHP, the official currency of the Philippines, opened with a decent rate of 0.02423. This rate remained steady through majority of the day. However, data reveals that late-night trade saw a slight dip bringing it down to 0.02420 towards the end of the session. While this might appear to be a small decrement, in forex markets, scaled to millions of units of trade, this translates to significant numerical values. Especially with currencies like the PHP, which are heavily traded on the global market, mainly due to the Philippines'' key role in global outsourcing and the vast remittances from its overseas worker communities. A small dip in the exchange rate like this could mark the beginning of a larger slide, and this is why this shift warrants attention. It’s unclear as yet whether this minor slip is a random fluctuation or signposts a trend. Nevertheless, it’s a reminder that currency values are susceptible to change. Explanations for the PHP''s subtle decline could range from changes in trade balance, domestic interest rates to shifts in investor confidence. As the global marketplace continues to respond to a myriad of influences including geopolitics, speculation, and pragmatic economic developments, exchange rates incessantly ebb and flow both rapidly and modestly. The dip in the PHP''s value underscores the importance for businesses, investors, and policymakers to keep a vigilant eye on exchange rates as they formulate their strategies. It also brings into focus the broader trend of global economic uncertainties and volatilities, causing foreign exchange markets to be in constant flux. The seemingly minute descent in PHP''s rates, however, does not necessarily predict a significant downfall or economic distress. Currency rates fluctuate daily and can be influenced by a spectrum of events, from changes in national interest rates to geopolitical uncertainties. These small slips could be offset in the near future, as the currency market dynamically adjusts to emerging events. Looking ahead, stakeholders must remain vigilant for further fluctuations. While the PHP performance remains generally stable, tracking these minor adjustments could provide valuable insights for future financial strategies. This scenario once again reiterates the wisdom in keeping a watchful eye on the seemingly obtuse world of foreign exchange rates.Slow Descent: PHP exchange rates reveal subtle decline in value

Current Middle Market Exchange Rate

For information purposes only.