2024-05-10 Seychelles Rupee News
![Currency mart logo](../../../images/blog/currency-mart-logo.png)
2024-05-09
Summary of Yesterday
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Understanding the Overall Trend
Upon inspection of the given time series dataset for SCR exchange rates, there is a noticeable overall upward trend, with the rate increasing from 0.09424 at the beginning of the day to approximately 0.09976 by the end of the day. This increase implies that the currency experienced an overall appreciation on this particular day.
Identifying Seasonality or Recurring Patterns
Time series data is well-suited for detecting seasonality or recurring patterns, however, within the provided dataset for a single day of trading, there isn't substantial evidence to determine any concrete patterns. For accurate identification of seasonality or recurring patterns in the exchange rates, data spanning over a larger timeframe, including multiple months or years, would be instrumental.
Noting Any Outliers
In the given time series data, there is one significant jump present in the dataset where the SCR exchange rate rises drastically from around 0.0943 (at 02:05:02) to approximately 0.10058 (at 02:10:02). This sudden increase, followed by a stabilization, indicates that there was an outlier event which caused a sharp increase in the exchange rate. This climb doesn't align with the generally steady upward trend observed throughout the dataset most likely representing an unusual surge in demand or a possible data recording error.
Final Summary
In conclusion, the SCR exchange rate witnessed an upward trend during the day in question. While substantial seasonal patterns or recurring trends are not clearly visible due to the limited timeframe of the data, there is a distinct anomaly where the exchange rates experiences a sharp surge. Such anomalies are often the result of unusual market events or data inaccuracies.
![Rapid Fluctuations Mark SCR Exchange Rates in Volatile Market](http://currencymart.net/images/news/seychelles-rupee/2024-05-10/img-Bs8lryN2anGq6u1NauQeEoaZ.webp)