2024-05-21 Rwanda Franc 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
Data Analysis Overview
The data provided records the exchange rate between the Rwandan Franc (RWF) over different points in time on 20th May 2024. The exchange rate data is time-series by nature, and the observations are made on a minute-to-minute basis.
1. Understanding the overall trend of the exchange rates.
The overall trend of the exchange rates over this period appears to be moderately stable. For the most part, the exchange rate fluctuates between 0.00105 and 0.00106, which indicates that over this particular day, the currency exchange rates were relatively constant. There is a very slight increase in the exchange rate recorded at particular timestamps but it consistently reverts to its initial rate, showing no significant increasing or decreasing pattern.
2. Identifying any seasonality or recurring patterns in the changes of exchange rates.
Since the data is extracted from a single day, it is hard to draw a definitive conclusion about seasonality or recurring patterns. Such patterns often become noticeable over a more extended timeframe, such as weeks, months, or years. However, based on this one-day data, there appears to be a slight pattern where the exchange rate slightly increases from 0.00105 to 0.00106 around the beginning of every hour and reverts back to the previous rate.
3. Noting any outliers, or instances where the exchange rate differs significantly from the trend or seasonality.
Given the provided data, there are no apparent outliers or instances where the exchange rate differs significantly from the observed trend. The exchange rates remain in a narrow band of 0.00105 to 0.00106 throughout the period. This absence of outliers suggests stable currency exchange market conditions during this specific day.
Conclusion
This analysis suggests overall stability in the exchange rate of the Rwandan Franc on the specified date. However, for more comprehensive insight into trends, patterning, and outlier detection, data spanning a more extended period would be needed. This would also allow for an examination of potential seasonality or cyclical trends in the exchange rate.
![RWF Exchange Rates Hold Steady Showing Signs of Market Stability](http://currencymart.net/images/news/rwanda-franc/2024-05-21/img-tKurBjEeOCRo7FIRDplqwK9z.webp)