2024-05-21 Saudi Riyal News
![Currency mart logo](../../../images/blog/currency-mart-logo.png)
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
Overall Trend Analysis
Based on the provided dataset, there appears to be a very slight upward trend in the exchange rates over the analyzed period. The earliest recorded rate was 0.36269, while the closing rate moved up to 0.36368. However, the overall increase is minor, and the rates remain largely stable. This stability in the rate indicates a steady exchange scenario during this timeframe.
Recurring Patterns and Seasonality
Upon examining the dataset, one can identify some recurring fluctuations in the SAR exchange rate throughout the period. However, due to the granularity of data (minute-wise), it's challenging to assess a certain diurnal or seasonal pattern solely from this data. What can be identified, though, are periods of relative stability followed by periods of minor fluctuation. Return to a state of relative stability after these fluctuations suggests an efficient market adjusting for variations in supply and demand.
Identifying Outliers
In this dataset, there aren't any significant outliers or drastic spikes in the exchange rate. The SAR exchange rate seems to hover around a mean, rarely deviating significantly from it. The highest rate recorded was 0.36381, and the lowest was 0.36261. The differences between these outliers and the average rate are minor, suggesting they're the result of regular market fluctuations rather than exceptional events.
It's worth noting that this analysis is limited to the dataset provided and does not consider external factors like market hours or key financial news. Additional context or data might reveal deeper trends or driving factors behind the fluctuations observed.
![eady Rise in SAR Exchange Rates Observed Throughout the Day
The exchange rate of the Saudi Riyal (SAR) showed a distinct progressive increase as per the time series financial data of May 20, 2024. The data indicates an intriguing trend in the financial markets, pushing experts to unlock its implications and chart out corresponding possible opportunities and risks.
At the start of the day, the SAR exchange rate was recorded at 0.36269 units, a relatively moderate value in the economic trend. However, as the day unfold, the rate shows an upward movement, ending the session at an elevated position of 0.36368 units. This increase, although apparently minor, signals a stable gain in the SAR value over a day](http://currencymart.net/images/news/saudi-riyal/2024-05-21/img-adFZ1jocO4hk8K7tgTy4b3IW.webp)