2024-05-14 Rial Omani News
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2024-05-13
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
Analysis of Overall Trend
After examining the data as a time series, there appears to be a very slight decrease in the exchange rate of OMR over the given time period. The exchange rate fluctuates between 3.55 and 3.56 for the most part, but there's an overall downward trend, albeit marginally from 3.55534 to 3.55466.
Analysis of Seasonality and Recurring Patterns
Looking at the given time series data for any seasonality or recurring patterns, it is challenging to determine any concrete patterns or seasonal trends. The data appears to be slightly unstable throughout the day, with subtle fluctuations occurring. Without further information, such as hourly averages or specific trading days, it's difficult to identify any repeating cycles or patterns.
Analysis of Outliers
Given the range of exchange rates in this period, it appears that there aren't notable outliers in the data. The exchange rate seems to stay within a consistent range and does not exhibit extreme highs or lows. Any slight fluctuations that do occur seem to be within the normal pattern of the time-series data.
It should be noted that this analysis does not take into consideration various external factors such as market opening/closing hours, weekends/holidays, or the release of key financial news and reports, which means that some of these fluctuations could possibly be explained by those factors.
![R Exchange Rate Experiences Slight Fluctuations throughout the Day
On May 13th, 2024, the Omani Rial (OMR) exchange rate showcased mild fluctuations throughout the trading day. This was evidenced distinctly by the time-series data made available, outlining the variations in the exchange rate at regular five-minute intervals.
As the first half of the trading day unfolded, the OMR began its journey with a value standing at 3.55534. The value saw a marginal dip, lowering to 3.55299 within the next three hours, before rebounding slightly and hovering around the original value, showcasing the typical action of a modestly volatile market.
The fluctuation in the OMR exchange rate can be indicative of a variety of factors such as changes in market demand, influence of other international currency, and overall economic performance. An analysis of the time-series data points to frequent intervals of change over the course of the day. Still, it is worth noting that these frequent shifts were relatively minor, with overall volatility remaining low. This suggests a generally stable outlook for the OMR exchange rate.
Why does this matter to investors, brokers, and other market players? Currency fluctuations represent a significant facet of the global economy. They can affect import and export prices, inflation rates, and even global investment strategies. A stable currency like the OMR generally signifies a robust economy and can attract foreign investment, boosting the local economy further.
However, stability does not always equate with profitability, especially when it comes to Forex trading. Currency traders often prefer higher volatility as it provides more opportunities for making profit. From the data, the OMR](http://currencymart.net/images/news/rial-omani/2024-05-14/img-LlVv3YNhl8xVGNJ6XMhz3Eto.webp)