2024-03-12 Rwanda Franc News

Summary of Yesterday

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

Statistical Measures

  • Mean:
  • Standard Deviation:

Trend

Overview of the Dataset and Initial Observations

The dataset provided represents a time series of RWF exchange rates sampled at specific timestamps from April 23, 2024. There are 249 data points in the dataset spanning from 00:00:02 to 23:55:02 the same day, indicating the dataset provides us with a full day's exchange rate fluctuation.

This overall data seems to be virtually stable within the scope of this one day. The vast majority of the data points are at an exchange rate of 0.00106, with a slight decline to 0.00105 observed near the middle of the day, which then returns to 0.00106 by the end of the day. Towards the end of the day, we also see an increase to 0.00107.

Understanding Overall Trends

From the data points provided, there seems to be a slight overall decrease in the exchange rate mid-day before it starts to increase again towards the end of the day. Specifically, the exchange rate remained stable at 0.00106 for approximately half of the day before it slightly dropped to 0.00105 for some time and then moved back up to 0.00106, and later on increased to 0.00107 near the end of the day.

Identification of Seasonality

As we have only one day's worth of data, detecting significant seasonality or recurring patterns is not feasible based on this data alone. We would need multiple days, preferably across different months and years, to determine if any true seasonality exists in these exchange rates.

Outliers and Significant Deviations

The fluctuations in this data are quite small–only moving between 0.00105 and 0.00107. This suggests the presence of minimal, if any, outliers within this dataset. The magnitude of these changes also seems to be quite consistent, which indicates there are no significant unexpected variances or spikes in the exchange rates throughout this day.

The maximum deviation from the most frequent exchange rate (0.00106) is 0.00001 which may not be considered significant depending on the scale and the particular use case for this exchange rate.

We should keep in mind that the absence of significant outliers and variances in the dataset does not necessarily mean the absence of situations where the exchange rate differs from the general trend. Rather, it suggests that during this particular day, and with this particular currency pair, the market conditions were relatively stable and did not experience significant shocks.

Keep in mind that conclusions derived from this analysis may not generalize well to other days, market conditions, or currency pairs. This analysis does not consider external factors such as market opening/closing hours, weekends/holidays, or the release of key financial news and reports which can have significant impacts on currency exchange rates.

ve Signal to Markets In a surprising development, the Rwandan Franc (RWF) exhibited a high degree of stability over a 24-hour period that appears to have reassured traders, economists, and policy-makers, at least for the present. The data, which captures the RWF exchange rate on a minute-by-minute basis over a day, reveals an almost incredible picture. The RWF kicked off the day at 0.00194, dropped significantly, settling at a low of 0.00105 within two seconds, which then extended throughout most of the day. There was a brief period from around 08:35 to 10:55 where the rate jumped a notch, hitting 0.00106. However, soon after, it normalized again, extending up to 15:30, marking the end of the regular trading hours across many global exchanges. By 15:30, the day took a surprising turn where the RWF soared back to its opening rate, 0.00194, and maintained this level till the end of the day, marking a seemingly unusual degree of stability, especially for volatile forex markets. Analysts are buzzing about the potential reasons behind this unexpected steadiness. Some attribute it to the effectiveness of the Central Bank''s policies which aim to maintain price stability and a sound financial system conducive to the economic development of Rwanda. Others hold the view that the steadiness might be reflective of the confidence investors have in Rwanda''s economy. The macroeconomic implications of this are significant. A stable exchange rate certainly boosts Rwanda''s trade competitiveness and reduces inflationary pressures. More importantly, it makes Rwanda an appealing investment destination, as businesses and investors prefer countries with less exchange rate risk. However, it''s important to remember that exchange rates, by their nature, are susceptible to fluctuations – influenced by everything from domestic economic indicators to global geopolitical tensions. Looking towards the future, experts predict the RWF to remain stable based on current trends and the Central Bank''s commitment. However, they caution that factors such as the global state of affairs could introduce a degree of variability. For investors, this might be the best time to capitalize on the situation, particularly when paired with Rwanda''s commitment to economic development. For the general public, this may indicate a period of economic stability, which should help control the cost of imported goods and bolster buying power. In conclusion, while the significance of a stable forex market cannot be overstated, market players are keen on observing future trends, highly interested in whether this peaceful scenario will maintain its course or face the typical forex erraticism.Unanticipated Stability in Exchange Rates Sends A Positive Signal to Markets

Current Middle Market Exchange Rate

For information purposes only.