2024-05-09 Somali Shilling News
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2024-05-08
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
By analyzing the given dataset, we can infer that the exchange rates (SOS) remain stable throughout the duration. For the vast majority of the timestamps, the exchange rate persists at 0.0024, with only a few occasional moments where it jumped to 0.00241. This sort of trend suggests a highly stable financial context in which the exchange rate operates. It's important to note that such stability is generally beneficial, facilitating predictable and secure business transactions.
2. Identifying the Seasonality or Recurring Patterns
In terms of recurring patterns, the dataset does not reveal significant deviations in the exchange rates, implying a lack of observable seasonality. All presented instances report rates of 0.0024 or 0.00241, without consistent evidence of fluctuations at certain periods that might have hinted towards seasonal changes. Therefore, it is safe to postulate that these exchange rates do not showcase standard cyclical behavior that would denote distinct periods (such as weekends, hours of the day, etc.) affecting the rates.
3. Noting of any Outliers in the Exchange Rates
Given the uniformity of the SOS exchange rate across all timestamps, pointing out outliers becomes a somewhat trivial task. Instances where the rate attained a value of 0.00241 can be considered as deviations from the stable rate of 0.0024. However, it's crucial to remember that these slight variations do not significantly depart from the norm, thus maintaining the overall low volatility of the exchange rate. Therefore, while technically they are outliers, they do not present drastic anomalies that would pose serious implications on financial transactions.
![Unprecedented Stability in SOS Exchange Rate Triggers Market Speculation](http://currencymart.net/images/news/somali-shilling/2024-05-09/img-Q11B2YmHGV4XxbvFecS8ki5r.webp)