2024-05-21 Solomon Islands Dollar 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
1. Overall Trend of Exchange Rates
Overall, the exchange rate showed a slight increase from the beginning to the end of the period. The data began at 0.16048 at the earliest timestamp and ended at 0.16058 in the last timestamp. Although these changes were relatively small, they still indicate a general upward trend in the exchange rate over the period observed. Please understand that this observation is based purely on the data at hand and does not take into consideration any external influencing factors.
2. Recurring Patterns and Seasonality
Seasonality or recurring patterns are a little harder to ascertain in this data set since it spans a period of only 24 hrs. However, there were very slight fluctuations in the exchange rate throughout the day. To better determine the presence of regular patterns or seasonality in the exchange rate, a data set spanning a longer period would be needed.
3. Outliers in Exchange Rates
The exchange rate remained quite steady over the 24-hour period, fluctuating between approximately 0.1604 and 0.1608. There was a noticeable dip at 16:30:03, where the exchange rate dropped to 0.16043 from 0.16078. This represents a relatively significant movement compared to the rest of the day. However, without a broader range of data, it is difficult to determine whether this point is indeed an outlier or a part of a recurring pattern.
Therefore, the comprehensive analysis of the data set shows slight movements in the exchange rate over a 24-hour period, culminating in an overall uptick by the end of the day. Analyzing larger data sets over longer time periods would provide a more accurate and detailed forecast.
![After Hourly Fluctuations, SBD Exchange Rate Exhibits Significant Strength](http://currencymart.net/images/news/solomon-islands-dollar/2024-05-21/img-pUCiS5bj7AHL6JSFP8mlP0hP.webp)