2024-05-13 Rand News
![Currency mart logo](../../../images/blog/currency-mart-logo.png)
2024-05-12
Summary of Last Week
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Data Analysis
1. Overall Trend of the Exchange Rates
Based on the dataset provided, it appears that the ZAR exchange rate generally fluctuates between 0.071 and 0.074. The exchange rate seems to be slightly volatile, with numerous instances of small increases and decreases. It's important to note that the range of the exchange rates isn't exceptionally wide, which suggests that the ZAR is relatively stable within the given timeframe.
2. Seasonality or Recurring Patterns
Upon examining the dataset, no clear seasonality or recurring patterns could be identified. The fluctuations in the exchange rate appear random rather than systematic or cyclical. We do not have data for an entire year, or multiple years; this limits the possibility to identify any potential seasonality or recurrent patterns that may occur over a longer period.
3. Outliers
When looking at the rates, no significant outliers can be identified. The rates seem to be tightly clustered within a small range, as mentioned above. However, more sophisticated statistical analysis such as using boxplot or z-score may potentially reveal minor outliers which are not directly observable from the raw data.
Overall, the trend appears to be relatively stable with minor fluctuations. No clear seasonal or recurring patterns have been identified and there doesn't seem to be any major outliers within the dataset. As requested, external factors like market opening/closing hours, weekends/holidays, or key financial news and reports were not taken into account in this analysis.
![Unpredictable ZAR Exchange Rates Witness a Notable Surge](http://currencymart.net/images/news/rand/2024-05-13/img-BCA2ylJ9hyj3s3BcH43aNtPX.webp)