2024-05-22 Singapore Dollar News
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2024-05-21
Summary of Yesterday
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
1. Understanding the overall trend of exchange rates
Upon visual inspection, there is a pattern in the data; the exchange rate seen in the provided data set appears to mildly fluctuate around 1.012 and 1.014. Occasionally, it dips to as low as 1.011 and surges as high as about 1.014. This suggests the currency rate remains more or less stable within a small range. It is important to interpret this as relative stability rather than absolute, as exchange rates are constantly influenced by multiple factors, including but not limited to monetary policy, economic indicators, and geopolitical events.
2. Identifying seasonality or recurring patterns
Given the limited time frame of the data provided, it is challenging to discern any long-term seasonality or cyclical patterns in the exchange rate data. The dataset provided is not across different months or years to accurately determine the presence of seasonality; for such, one would ideally have several years' worth of data which include all seasons. However, from the data provided, there doesn't appear to be any clear daily pattern or repetitive fluctuations that could suggest a daily cycle or recurring pattern.
3. Outliers in the data
Here again, based on the available data, there doesn't seem to be any notable outliers detected. While there are slight fluctuations in the exchange rate throughout the day, none of these changes are drastic enough to be considered significant deviations from the overall pattern. All rates fall within a relatively tight range, with most values clustering around the 1.012-1.014 mark. Therefore, it can be concluded from this analysis that within the given data set, there doesn't appear to be any significant outliers.
Overall, the provided exchange rate data demonstrates relative stability with slight fluctuations within a given time period. However, a more comprehensive picture of the currency's behavior would require more extended periods of data and consideration of influences from various external events such as market trends, economic indicators, geopolitical activities, etc.
![SGD Exchange Rate Volatility: A Comprehensive Analysis](http://currencymart.net/images/news/singapore-dollar/2024-05-22/img-m8TXWZIg9umSEHDUpTBAai3z.webp)