2024-04-24 Serbian Dinar News

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Follow Serbian Dinar Forecast April 24, 2024
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Summary of Yesterday

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

Statistical Measures

  • Mean:
  • Standard Deviation:

Trend

Analysis of the Exchange Rate Trend

The exchange rate data provided is in a time series format consisting of values taken at evenly spaced intervals. Scanning through the datasets, it is noticeable that the exchange rate maintained a fairly stable movement throughout the period under review. The rate started at 0.01246 and drifted slightly downwards and upwards in minor fractions, signifying that the exchange rate during the period represented, has a somewhat horizontal or stagnant overall trend.

Seasonality and Recurring Patterns

In terms of seasonality or recurring patterns, the data provided does not show any distinctive cyclical pattern. The exchange rate remains fairly consistent throughout the observed period, with very minimal variation. This consistency suggests that there may not be any recurring patterns in the change of exchange rates based on the time of day or specific dates. Again, considering the stability and uniformity of the observed rates, no noteworthy seasonality can be identified.

Outliers within the Exchange Rates

Given the stability and consistency of the exchange rate throughout the dataset, any significant deviations would be considered as outliers. Such outliers can be spikes or troughs in the exchange rate that break away from the pattern of minor fluctuation displayed in the data set. In this particular dataset, there are no significant outliers present. All exchange rates observed have maintained a steady state, fluctuating between 0.01244 and 0.01249, which is a very narrow band. This consistency in the given time period signifies a pretty steady and stable exchange rate environment.

Additional Insights

Despite the data provided does not visibly show trends, patterns, or outliers, a more advanced statistical analysis could provide a deeper insight into the data. Techniques such as performing decomposition of the time series into trend, seasonality, and residuals or conducting a spectral analysis to identify any hidden cycles might potentially reveal more details. However, without incorporating external factors such as market opening/closing hours, weekends/holidays, release of key financial news and reports, the analysis will be limited.

s Throughout the Day The Serbian Dinar (RSD), demonstrated its resilience in the foreign exchange market on 23rd of April, 2024, as it remained consistent throughout the day of trading, with minor ascents and descents according to the dataset provided. The foreign exchange market opened with the RSD trading at a rate of 0.01246 at 00:00 hours, maintaining its value until 00:55 hours, after which it started exhibiting a slight downward slope. The exchange rate then took a minimal dip to 0.01245, and experienced another slight drop at 01:20 hours hitting 0.01244 before showing signs of recovery to its prior 0.01245 level. Despite intermittent fluctuations, the trend of the exchange rate remained largely unwavering hovering around the 0.01248 mark for the better part of the day. An uptick of 0.01249 was observed from 02:35 to 02:55, reflecting the dinar''s modest strength during this period. The currency then dipped back to 0.01248, where it continued to trade for most of the day. The notable consistency of the exchange rate indicates the stability of the Serbian dinar on this particular trading day. Indeed, the strength and resilience of the RSD were put to the test, and these attributes allowed the currency to maintain a stable exchange rate throughout the day. The foreign exchange market is one of the most crucial components of the global financial system, having an immediate and widespread impact on the global economy. Although fluctuations in exchange rates are often seen, such steadiness as demonstrated by the RSD is rare and significant. The consistency of the RSD exchange rate speaks volumes about the health of the Serbian economy – it signifies investor confidence and robust economic conditions. The steady exchange rate of the RSD could be attributed to various factors, such as the strong economic performance of Serbia, a decrease in inflation, or increased foreign direct investment. On the other hand, the minor fluctuations could be due to speculators buying and selling in the market, tax changes, or changes in interest rates. Conclusively, it can be stated that the resilience of the Serbian Dinar highlights its robustness in the foreign exchange market, an attribute that investors, speculators and the general public may find confidence in. As international markets gear up for the next trading day, all eyes will be on the RSD for any significant changes. While the future of the financial markets is often unpredictable, the firmness of the RSD exhibited on 23rd of April, 2024 provides a solid foundation for potential future performance.RSD Exchange Rate Remains Steady with Minute Fluctuations Throughout the Day

Current Middle Market Exchange Rate

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